#美SEC促进加密资产创新监管框架 The 2025 "Genius Act" really changed the game. Full reserves, federal licensing, monthly audits—these three strict requirements pulled stablecoins out of the gray area and firmly into the legitimate financial landscape.

For the US dollar, this is equivalent to opening a new channel of circulation on-chain. Previously, stablecoins operated in regulatory gaps; now, with a clear framework in place, it has actually given big capital the confidence to enter. Institutional investors have been waiting for this signal—waiting for a regulatory framework clear enough to confidently make large investments. Now the answer has arrived.

More importantly, this system design directly opens a channel for traditional financial assets to enter the crypto market. Real-world assets on-chain, institutional capital inflows, on-chain applications of the dollar—these scenarios that once seemed unimaginable now have policy support. The crypto market is moving from wild growth to a formal, regulated, and institutionalized phase.