U.S. Commodity Futures Trading Commission (CFTC) has hinted at the forthcoming issuance of a formal regulatory framework for cryptocurrencies, marking a shift in the regulatory landscape from ambiguity to clear rules. This move, coupled with active enforcement and coordinated cooperation with the U.S. Securities and Exchange Commission (SEC) to classify assets, aims to unlock institutional capital currently hindered by legal uncertainty. The market may have already reflected expectations of regulatory clarity in its pricing ahead of the official rulebook's publication, and is anticipating that cryptocurrencies will be regarded as a recognized asset class, bringing about structural transformation.