For eight years, we've been hearing the same refrain: "Regulation is coming, crypto will collapse." But what’s the result? 2025 has become the year with the strictest regulations, yet institutional funds are flooding in. Frankly, many people's understanding of regulation still remains at the superficial level of "one-size-fits-all."

Honestly, the biggest game-changer for the crypto market in 2026 isn't some technological breakthrough, but the "compliance dividend" that everyone is eyeing.

Let's first look at the new global regulatory landscape, which is the real deal. The United States is the absolute key player here. The "GENIUS Act" signed last year directly set the rules for stablecoins—requiring 100% high-quality liquid asset reserves. In other words, compliant stablecoins like USDC are fully integrated into the dollar ecosystem. Rather than suppression, it’s more like "acceptance." More importantly, since the new SEC chair took office, their attitude towards crypto assets has noticeably softened. There’s a 77% chance that the Market Structure Bill will pass before 2027, and by then, the entire market’s rules will be fully transparent.

Europe and Asia are also moving in tandem. The EU’s MiCA regulations have been fully implemented, standardizing crypto regulation across Europe and greatly reducing cross-border investment difficulties. Hong Kong is not to be outdone; the "Stablecoin Regulations" have already taken effect, establishing a licensing system and aiming to carve out a share in Asia. The global landscape is now set: "US-led rules, EU framework, fierce competition in Asia." While there’s still room for regulatory arbitrage, the overall trend is toward "more regulated." For those traditional funds worth trillions, this is like a reassuring pill.

My straightforward view: regulation has always been a double-edged sword. It kills off those wild, aircoin projects, while benefiting truly valuable projects and platforms that embrace regulation.