#加密货币监管政策 As the regulatory haze clears, the crypto landscape of 2025 is reshuffling, which is both exciting and thought-provoking.

Most interestingly, the list of winners has shown a clear change. Stablecoins are no longer just trading tools but have truly provided fundamental financial value for ordinary users—Tether’s per-user profit data says it all; prediction markets are also entering a boom period, transforming from questioned "volume manipulation" tools into institutional-grade applications. ICE’s $2 billion investment in Polymarket is enough to be shocking. The most unexpected development is the entry of traditional giants—"old players" like Robinhood quickly positioning themselves after regulatory clarity, demonstrating their keen market intuition.

But even more significant changes are happening at the policy level. The US SEC is no longer the ineffective but tough regulator; the Genius Stablecoin Bill has passed, and legislation on market structure is advancing… all signaling a shift: from confrontation to understanding, from suppression to building. What does this transformation mean for the entire industry? It’s an opportunity for high-quality projects to finally thrive within a compliant framework.

The true Web3 era is not achieved through avoidance and speculation but through clear rules that allow technology and value to genuinely benefit users. This cycle is worth looking forward to.