The past 43 days have been like a "regulatory vacuum" for the U.S. cryptocurrency market. With the end of the U.S. government shutdown, the two major regulatory agencies that were nearly paralyzed — the SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) — are about to restart. This shutdown unexpectedly became a stress test for the resilience of the crypto market: during the days without regulatory scrutiny, the market operated on its own, but key innovation gateways, especially heavyweight products like spot ETFs, found their approval processes completely stalled. Now that the regulatory agencies are reopening, they first face a mountain of backlog, while a number of astute crypto companies have already submitted IPO and ETF applications in advance, trying to gain the upper hand in the wave of regulatory recovery. Even more significantly, SEC Chairman Gary Gensler recently revealed that a brand new "token classification system" will be established in the coming months. This is not only to address the backlog issue but could also mark the beginning of a fundamental transformation regarding the definition of cryptocurrency identity, signaling that the U.S. regulatory framework is moving from chaos to clarity. For the crypto space, after a short-term growing pain, a clearer and possibly stricter regulatory era is about to arrive; this is both a challenge and a necessary "rite of passage" for the industry's maturation. Follow me to pierce through the market noise and see the real trends and wealth opportunities behind the regulation. $BTC $ETH $SOL #代币化热潮 #美国结束政府停摆