Hello everyone, Happy New Year.

Looking back at 2025, the actions taken by the United States in the crypto space became the focus of the entire industry. In mid-July, the federal government passed the "Stablecoin National Innovation and Establishment Act," marking the official move of stablecoins from the gray area to regulation. This step may seem simple, but its significance is profound—it breaks the deadlock that has persisted for years, allowing the entire industry to finally breathe a sigh of relief. Many analysts have called 2025 the "Ice-Breaking Year" for US crypto regulation, and this assessment is quite fitting.

By 2026, the story truly begins to get complicated. If 2025 was just about opening the door for stablecoins, then this year's task is much larger: Bitcoin, DeFi, exchanges, project teams... the entire crypto ecosystem must be incorporated into a regulatory framework. This involves a market worth trillions of dollars, and every step must be taken carefully.

And the timetable has already been set. There are several key milestones this year, each capable of changing capital flows and market trends. One recent development occurred in January—the "Clarity Act" (formally known as the 21st Century Financial Innovation and Technology Clarity Act) is about to enter the Senate for formal review. Whether this bill can progress smoothly will directly influence the rhythm of the entire crypto market in the first half of the year.

This is not an easy process. Every date, hearing, and vote could be a decisive moment.