The emergence of the Digital Asset Act #数字资产法案 is undoubtedly a key point in the development of the digital asset ecosystem. The passage of the FIT21 Act in the United States clearly delineates the responsibilities of regulatory agencies, providing a clear path for digital asset regulation and ending the industry's long period of regulatory chaos. We see its positive significance for the construction of market order. The UK’s legislation that includes cryptocurrencies in the realm of personal property also provides strong legal protection for investors, greatly enhancing market confidence.

Although these laws each have their highlights, they also face challenges. For instance, the lack of uniform standards in some state-level laws can create opportunities for regulatory arbitrage, allowing some criminals to take advantage. Furthermore, issues such as severe price volatility and technological security risks inherent in digital assets mean that current legislation is still not comprehensive enough to address these challenges.