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

Industry participants should pay close attention to the following trends:

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

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

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

In summary, this roundtable meeting provides a key pathway for the crypto industry to transition from 'wild growth' to standardized development, but the release of regulatory dividends still relies on legislative advancements and the deep integration of technological compliance.