$BTC

This roundtable marks the beginning of a new phase in U.S. cryptocurrency regulation characterized by clarified rules and predictable compliance. In the short term, the SEC's shift in policy may attract more institutional funds into the cryptocurrency market (such as giants like BlackRock accelerating their investments in 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 cryptocurrency governance coordination (such as mutual recognition of MiCA and SEC rules), but issues such as the legislative deadlock on stablecoins and unclear compliance paths for DeFi still need to be addressed.