#加密市场观察 Policy Uncertainty

In March 2025, U.S. cryptocurrency policy remains unclear. The White House summit has released positive signals, but has not addressed tax and compliance details. Observations of the cryptocurrency market show that investors have a pessimistic outlook on the SEC's new regulations, leading to price pressure on small and medium-sized tokens. In contrast, Japan has approved the legal use of USDC, attracting capital inflows into the Asian market. The divergence in global regulation is reshaping the competitive landscape of the cryptocurrency market, and the U.S. needs to accelerate its pace to maintain its lead.