The recent roundtable meeting marks a new phase in the United States' cryptocurrency regulation characterized by clearer rules and predictable compliance. In the short term, the SEC's policy shift may attract more institutional funds into the crypto market (with giants like BlackRock accelerating their deployment of ETFs and staking products) and promote the construction of tokenized financial infrastructure. In the long term, the clarification of the regulatory framework will facilitate global coordination in cryptocurrency governance (such as mutual recognition between MiCA and SEC rules), but issues like the legislative deadlock on stablecoins and unclear compliance paths for DeFi still need further resolution.

Industry participants should pay close attention to the following trends:

① SEC rule-making timeline: Within the next 3-6 months, the SEC may release guidelines on the issuance of security tokens, custody safety standards, and registration details for DeFi platforms.

② The federalization process of stablecoin regulation: If the GENIUS Act resumes negotiations, its reserve requirements and information disclosure standards will directly impact the operating models of leading stablecoins like USDT and USDC.

③ Results of token property reassessment: The SEC's classification determination of major public chain assets (such as whether XRP and SOL are excluded from being considered securities) will determine their market liquidity and compliance costs.

In summary, the SEC's roundtable meeting provides a critical pathway for the cryptocurrency industry to transition from 'wild growth' to normalized development, but the release of regulatory dividends still relies on legislative advancement and deep integration of technological compliance.