On January 6th, a well-known Wall Street investment bank released a new research report, expressing an optimistic outlook for the development prospects of the crypto asset industry. The analysis pointed out that the gradual improvement of the regulatory environment, coupled with the emergence of new application scenarios beyond trading, is opening up new opportunities for the entire ecosystem. Especially those projects focused on infrastructure development and with strong anti-cyclical capabilities are expected to attract more institutional funding.

Regulatory uncertainty has long been a barrier to institutional investors entering the market. However, this situation is changing. The research team led by analyst James Yaro stated, "We see the improvement of the regulatory environment becoming a key driver in promoting continuous institutional adoption of crypto assets, with both buy-side and sell-side financial institutions accelerating their pace." At the same time, the application scope of crypto assets is continuously expanding, going beyond mere trading functions.

Policy developments in the United States have become a focal point. After the Trump administration took office, the SEC underwent a comprehensive personnel reshuffle. The new chairman, Paul Atkins, has been confirmed in his position, signaling a shift away from the aggressive enforcement style of previous years. The SEC has gradually dismissed backlog cases and withdrawn from multiple court litigations, showing a clear easing of stance. Notably, Trump has made the development of the US crypto industry a core policy goal, and Atkins has also prioritized this as the SEC’s primary task.

The market structure legislation currently under review by Congress is a critical milestone. This new framework will clearly define regulatory boundaries for tokenized assets and decentralized finance, while also clarifying the division of authority between the SEC and the Commodity Futures Trading Commission. Investment banks believe these steps are crucial for unlocking institutional capital; once successfully implemented, they are expected to inject new vitality into the industry.