Recently, the Crypto Assets sector has witnessed a series of major policy changes, with former President Trump as the central figure. These new policies involve not only stablecoin regulation but also the diversification of retirement investment portfolios.

Trump signed the "Guidance and Establishment of the National Innovation Act for U.S. Stablecoins," commonly known as the "Genius Act." This act establishes a federal regulatory framework for U.S. dollar stablecoins, stipulating that only financial institutions licensed by the federal or state government can legally issue stablecoins. The act requires a 100% reserve system, supported by U.S. dollar cash or U.S. Treasury bonds. Additionally, the act sets up a bankruptcy protection mechanism for stablecoins, requiring issuing institutions to separate user funds from company operating funds. Notably, the act prohibits the Federal Reserve from issuing central bank digital currency to the public, to prevent the government from monitoring the flow of citizens' funds through digital currency.

In addition to stablecoin regulation, Trump also signed an executive order allowing 401(k) retirement savings plans to invest in alternative assets such as private equity, real estate, and Crypto Assets. This order will instruct the U.S. Department of Labor to reassess the guidance on alternative asset investments in 401(k) plans and clarify the fiduciary responsibilities the government assumes when providing asset allocation funds that include alternative investments.

These policy changes demonstrate Trump's open attitude towards Crypto Assets and alternative asset investments, while also reflecting support for financial innovation and investment diversification. However, the effectiveness and long-term impact of these policies remain to be seen. In the rapidly changing Crypto Assets market, adjustments in regulatory policies will have a profound impact on the entire industry.