The promotion of stablecoin policy leads to fluctuations in the crypto market; a shift in the SEC's stance may open new opportunities.

This week, the cryptocurrency market experienced a roller coaster ride with a rise followed by a fall. At the beginning of the week, Bitcoin and Ethereum drove the market to rise, and DeFi tokens briefly surged due to favourable regulatory news. However, on Friday, the sudden escalation of the geopolitical situation in the Middle East triggered panic in the market, causing most alts to fall by about 10%. Additionally, a company's stock price plummeted due to a misunderstanding regarding its issuance, which also had some impact on the price of Ethereum.

This week's focus is on three areas: stablecoin policy progress, Aster project developments, and changes in regulatory policies.

In the field of stablecoins, the U.S. Senate has passed a procedural vote on the "GENIUS Stablecoin Act", which could complete legislation as early as next week. This will become the first comprehensive federal legislation in the United States targeting Crypto Assets. South Korea has also proposed the "Digital Asset Basic Act", allowing local companies to issue stablecoins. The Bank of Korea plans to discuss the development of won-backed stablecoins with commercial banks.

Against the backdrop of stablecoin policy advancement, relevant companies in South Korea such as Kakao Pay and Kaia are drawing market attention. Kakao Pay, as a digital wallet platform, is seen as a potential beneficiary of domestic stablecoins. Kaia has announced plans to issue a Korean won-pegged stablecoin, with its token rising over 50% this week.

The Aster project has completed the token airdrop snapshot and is regarded as an important DEX project in the BNB Chain ecosystem. The project team plans to replace APX with the AST token, and the specific conversion ratio has not yet been announced. A similar token swap strategy previously presented a significant arbitrage opportunity during the RBN to AEVO exchange.

In terms of regulation, the SEC chairman stated at the roundtable that the DeFi concept aligns with the American spirit, clarifying that certain activities are not subject to securities law, supporting self-custody rights, and considering the introduction of an innovative exemption framework. In addition, the SEC has requested Sol ETF issuers to submit revised documents, and the market expects that this ETF may be approved in the short term.

Overall, the promotion of stablecoin policies, the dynamics of important projects, and changes in regulatory attitudes have jointly driven the volatility of the crypto market this week. Investors can pay attention to investment opportunities related to stablecoin assets, the approval progress of Sol ETF, and its ecological projects.