The introduction of the $BTC Digital Asset Act is undoubtedly a key milestone in the development of the digital asset ecosystem. With the passage of the FIT21 Act in the United States, which clearly delineates the responsibilities of regulatory agencies, there is now a clear path for digital asset regulation, ending the industry's long period of regulatory confusion. We see its positive significance for the construction of market order. The UK's legislation, which includes cryptocurrencies and similar assets within the category of personal property, provides strong legal protection for investors and greatly enhances market confidence. ​

While these acts each have their highlights, they also face challenges. For instance, the lack of uniform standards in some state-level regulations can create opportunities for regulatory arbitrage, allowing some unscrupulous individuals to take advantage. Additionally, the inherent characteristics of digital assets lead to severe price fluctuations and technical security risks, and the current legislation is still insufficient in addressing these issues. ​

Overall, the emergence of digital asset legislation is more beneficial than harmful. It lays a solid foundation for the healthy development of the industry and makes important strides in investor protection and market regulation. As practice progresses, it is believed that the legislation will continue to improve, better balancing innovation and regulation, promoting the steady advancement of the digital asset industry, and unlocking its immense potential in the economic field.