The SEC's recently promoted "SEC Crypto 2.0" plan aims to strengthen the regulation of digital assets, including the establishment of a new presidential cryptocurrency working group, pushing for digital asset securities trading to have the same reporting requirements as traditional securities, and planning to collaborate with the CFTC to establish a Digital Asset Trading Repository (DART). This plan emphasizes investor protection and market structure regulations while requiring improvements to the trading reporting mechanism and strengthening off-chain transaction oversight. This initiative is seen as the SEC tightening its grip on crypto regulation, which may impose stricter compliance pressures on exchanges and DeFi projects. However, there is also controversy within the SEC, with some commissioners criticizing over-enforcement as damaging to regulatory credibility, and if Trump were to be elected, it might lead to changes in the SEC leadership towards a more crypto-friendly policy. Overall, SEC Crypto 2.0 may mark a new phase in U.S. crypto regulation, but future policy directions will still be influenced by political factors.