Recently, the United States has been frequently active in the field of cryptocurrency legislation, becoming the focus of attention for the entire crypto community, with everyone holding their breath waiting for the final policy to be implemented! From the perspective of the overall industry environment, as the scale of the cryptocurrency market continues to expand, the United States, as a global financial center, can no longer remain aloof. On one hand, cryptocurrencies attract massive capital influx through technological innovation, giving rise to countless emerging projects and entrepreneurial opportunities; on the other hand, the regulatory vacuum has also bred fraud, money laundering, and other chaos, putting ordinary investors' asset safety at great risk. This situation of coexisting opportunities and crises has made legislative regulation an urgent necessity.