#特朗普加密新政 The Trump administration promoted the first systematic cryptocurrency legislation in the United States in 2025, establishing a regulatory framework for stablecoins anchored 1:1 to the dollar through three core bills, including the "Genius Act," which requires issuers to disclose reserve assets monthly and undergo federal audits. The new policy allows banks to custody crypto assets and clarifies that commodity tokens are regulated by the CFTC while securities are regulated by the SEC, reshaping the compliance path for the industry. At the same time, Trump signed an executive order to open up $12.5 trillion in pension funds for cryptocurrency investments, pushing Bitcoin's daily increase beyond $2,000. The policy objectives include consolidating the dollar's hegemony, attracting global capital inflows, and alleviating pressure on U.S. debt, but it has been criticized for potentially exacerbating financial risks and consumer protection gaps.