Word comes from the Senate—the head of the Banking Committee recently met with top executives from several Wall Street major banks. After the meeting, he directly stated that there has been a "substantial breakthrough" in the market rule legislation for crypto.

This time it's not just a formality. According to sources, these banking giants separately met with members of both parties this week, and the topics on the table were all hardcore issues: How should yield-bearing crypto assets be classified? Where is the regulatory boundary for decentralized finance (DeFi)? Can traditional financial institutions directly participate?

Interestingly, these banks, which previously avoided crypto, are now proactively sitting at the negotiation table. Once the policy window opens, the game rules could be completely rewritten.