$BTC The roundtable meeting marks a new phase in the United States' cryptocurrency regulation, characterized by clearer rules and predictable compliance. In the short term, the SEC's policy shift may attract more institutional funds into the crypto market (with giants like BlackRock accelerating their deployment of ETFs and staking products), and promote the construction of tokenized financial infrastructure. In the long term, the clarification of the regulatory framework will facilitate the coordination of global crypto governance (such as the mutual recognition of MiCA and SEC rules), but issues such as the stalemate in stablecoin legislation and the unclear compliance path for DeFi still need to be resolved further.