Key Points of the #加密圆桌会议要点 Crypto Roundtable Meeting This roundtable meeting marks a new stage in the U.S. crypto regulation characterized by clarified rules and predictable compliance. In the short term, the SEC's policy shift may attract more institutional capital into the crypto market (such as major players like BlackRock accelerating their ETF and staking product deployments) and promote the construction of tokenized financial infrastructure. In the long term, the clarity of the regulatory framework will facilitate global crypto governance collaboration (such as mutual recognition between MiCA and SEC regulations), but issues such as the legislative deadlock on stablecoins and unclear compliance paths for DeFi still need further resolution.