The recent "SEC Crypto 2.0" initiative advanced by the U.S. SEC aims to strengthen digital asset regulation, establish a new Presidential Cryptocurrency Working Group, and promote trading reporting requirements equivalent to traditional securities to protect investors and facilitate market innovation. This plan emphasizes the regulation of off-chain transactions, improves the trading reporting mechanism, and proposes collaboration with the CFTC to establish a Digital Asset Trading Repository (DART). This move marks the SEC's transition from a focus on enforcement to a focus on rule-making, responding to the long-standing demand from the crypto industry for regulatory clarity. However, balancing innovation while ensuring market safety remains a challenge for the SEC.