The recent roundtable meeting marked a new phase in the U.S. cryptocurrency regulation, characterized by clearer rules and predictable compliance. In the short term, the SEC's policy shift may attract more institutional capital into the cryptocurrency market (as giants like BlackRock accelerate their deployment of ETFs and staking products) and promote the construction of tokenized financial infrastructure. In the long term, a clearer regulatory framework will facilitate global cooperation in cryptocurrency governance (such as 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.

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 guidance on the issuance of security tokens, custodial safety standards, and registration details for DeFi platforms.

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

③ Re-evaluation of token attributes: The SEC's classification of mainstream public chain assets (such as whether XRP and SOL are excluded from being classified as securities) will determine their market liquidity and compliance costs.

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