Recently, the Crypto Assets market has undergone a series of significant changes, attracting widespread attention in the industry. The Fed and Wall Street's series of tough measures have brought a huge impact to the market.

First, the Fed Chairman announced the official launch of the stablecoin regulatory framework, marking a new phase in Crypto Assets regulation. Meanwhile, both Hong Kong and Shanghai have also begun to take action, further advancing the regulatory process. Even more surprisingly, Trump has expressed interest in Crypto Assets, and these events together form a grand picture of the global financial power play.

In the past few years, the regulatory situation of Crypto Assets has been chaotic. The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) each claim jurisdiction, while the Treasury remains silent. This regulatory vacuum has led to serious consequences, such as the $40 billion loss caused by the collapse of Terra and the trust crisis triggered by issues with USDT reserves.

Today, Wall Street has finally begun to take action. The new regulatory framework divides the Crypto Assets market into different categories:

Bank-backed stablecoins will be supervised by the Fed and banking regulatory agencies, requiring 100% reserves and real-time audits, primarily for corporate cross-border transfers.

Non-bank stablecoins are regulated by the SEC, requiring the disclosure of asset details while strengthening anti-money laundering reviews.

These changes indicate that the Crypto Assets market is entering a more regulated and transparent era. For investors, this is both a challenge and an opportunity. In this rapidly changing environment, staying alert and continuing to learn becomes particularly important. In the future, we may see a healthier and more orderly Crypto Assets ecosystem gradually take shape.