The regulatory framework for the US cryptocurrency industry is accelerating its formation. Although the relevant bills championed by Paul Atkins have not yet been implemented immediately, they have broken a decade-long regulatory vacuum for the first time, marking a turning point from stagnation to progress in the entire industry.

The progress so far is tangible: the House of Representatives passed the core bill with a high vote in July 2025, and regulatory agencies are gradually shifting from the previous "enforcement equals regulation" model to establishing clear rule frameworks and innovative exemption channels. However, the situation in the Senate is more complex—hearings and votes have been pushed to early 2026, and with the midterm elections influencing the process, whether it can be smoothly enacted ultimately depends on subsequent developments.

Why is this framework so critical to the entire market? Ultimately, the main reason why institutions and capital hesitate to enter en masse is the ambiguity of regulation. Traditional financial institutions like banks and funds do not dare to act without clear compliance guidelines. Once the rules are established, these concerns can be cleared away. The subsequent chain reaction is: reduced compliance risks, lower financing costs, and faster adoption efficiency across the industry—this is the true foundation supporting long-term development.

The market has never been willing to pay for "certainty" in advance. Usually, the real large-scale capital inflow always occurs after the rules come into effect. This is not the end but rather the starting point for the next wave of compliance innovation.