#加密立法新纪元 New Era of Cryptocurrency Legislation

The U.S. House of Representatives has intensively passed cryptocurrency-related bills, and the advancement of the GENIUS Act has pushed global cryptocurrency regulation into a new stage. This is not only a breakthrough at the policy level but also signifies a critical turning point for the industry from the 'gray area' to normalized development.

For companies, the clarity of the regulatory framework is both a constraint and an opportunity. On one hand, resources need to be invested to restructure compliance systems, from token classification, trading processes to user identity verification; every link must comply with policy requirements. On the other hand, definitive rules will dissipate capital concerns, opening channels for compliant projects to attract institutional funding.

Investors need to adjust their strategies: the logic of relying on 'regulatory arbitrage' is no longer applicable, and focus must shift to compliant platforms and projects, while paying attention to how legislative details impact different cryptocurrency assets differently.

Technological innovation remains the core competitiveness, but it must be carried out within the compliance framework. Only by transforming regulatory requirements into development momentum can sustainable growth be achieved in the 'new normal' of the cryptocurrency industry. This is both a challenge and a necessary path for the industry to mature.