2025 is truly different now.

In the past, countries' attitudes toward crypto assets fell into just two categories—either strict prevention or passive observation. This year, the wind has shifted. Major economies like the United States and Europe are no longer debating "whether or not," but instead seriously considering "how to regulate." This change seems subtle, yet it is profound—from prohibition and restriction to framework integration, crypto assets have moved from the financial periphery into the mainstream system.

The United States' legislative direction is particularly crucial. Once the US establishes a regulatory framework for crypto assets, other global economies typically follow or reference it. This is not a secret, but rather the practical logic of international political economy. Therefore, the US policy choices in 2025 directly determine the direction of the global crypto ecosystem for years to come.

Regulation and innovation need not be mutually exclusive. The purpose of framework integration, fundamentally, is to create space for compliant innovation to grow while blocking risk loopholes. For projects and exchanges committed to the mainstream route, this is actually an opportunity—while compliance costs may increase, the competitive environment also becomes more transparent and fair.

2025 is destined to be written into crypto history. The year defines not just regulatory policies, but the entire industry's future imagination space.