A leading global investment bank's latest research indicates that the crypto industry is approaching a critical turning point. The clear improvement in the regulatory environment, coupled with the emergence of applications beyond trading, is building a genuine long-term outlook for this ecosystem—especially for infrastructure companies that support the entire system but are less affected by market volatility.

In the past, regulatory uncertainty was the biggest obstacle for institutional participation in crypto assets. This situation is now rapidly changing. The bank's analyst team explicitly stated in a recent report that the improvement of the regulatory environment is the core driving force behind institutional continued adoption of crypto assets—whether for trading institutions or financial intermediaries, this is a necessary condition. Meanwhile, new uses of crypto assets outside of trading, such as payments, settlement, and financial infrastructure, are continuously being developed.

Legislation on US market structure has become a recent focus. With the new administration's policy tilt towards the crypto industry, the SEC's direction has shifted significantly. From an aggressive enforcement stance, it has moved towards a more open attitude, with several pending cases withdrawn and court lawsuits gradually phased out. Currently, the draft bill under discussion in Congress aims to clarify the regulatory framework for tokenized assets and decentralized finance projects, while also defining the responsibilities and powers among regulatory agencies.

These changes are crucial for unlocking institutional capital. Once these frameworks are established by the first half of 2026, the scale of institutional inflows could far exceed market expectations. Infrastructure companies, payment protocols, custody services—these projects that do not directly depend on market cycles—may become the focus of institutional allocation.