The Fed's actions this time are significant – last night the council signaled that Crypto Assets are moving from the margins to the center stage. More importantly, they plan to launch a streamlined main account for Compliance institutions, directly connecting stablecoins to the Fed's payment system.

What does this mean? A qualitative change in settlement efficiency and a cliff-like drop in transaction costs is equivalent to giving Crypto Assets a "quasi-official pass" and providing a dedicated lane directly to the national financial network.

Who will taste the sweetness first? Several directions are worth keeping an eye on:
The compliance camp for stablecoins, such as USDC and USDP, which already follow a legitimate path, will see an improvement in liquidity and credibility after obtaining central bank-level access; the builders of the fiat bridge, such as Custodia Bank and Kraken, which have been establishing fast fiat-crypto channels, may allow ordinary users to truly experience "instant transfers" after integration; in the DeFi protocol ecosystem, if lending platforms like Aave and Compound can connect to smoother compliant capital flows, the on-chain capital efficiency may quietly double.

Although this account feature is still relatively limited, the significance of breaking the ice far exceeds the actual operation—this is the first time that the walls of traditional finance have been actively breached by the authorities.

This week's economic calendar is quite packed: Tonight, Powell's speech may reveal policy signals; On Tuesday, the Fed's asset operation trends; On Wednesday, PMI data will unveil the economic temperature; On Thursday, initial jobless claims will reveal the employment truth; On Friday, the balance sheet will be made public, and the flow of funds will be clear at a glance.

Policy windows are often accompanied by structural opportunities, and understanding rule changes is more important than blindly chasing price increases.