【CITIC Securities: Trump Returns to Power, U.S. Cryptocurrency Regulation Enters a New Chapter】Jin Shi Data, December 25 – CITIC Securities research report states that if Trump plans to relax regulations on the cryptocurrency industry after taking office as President of the United States in 2025, the primary task will be to clarify the regulatory responsibilities of the industry. In this context, the '21st Century Financial Innovation and Technology Act', currently shelved by the U.S. Senate, is expected to receive new momentum. With expectations of a relaxed regulatory environment in the U.S., the U.S. stock market's cryptocurrency industry chain is expected to receive a positive boost, suggesting attention to three directions: 1) Increased trading activity in the U.S. cryptocurrency industry may benefit U.S. cryptocurrency exchanges; 2) Favorable policies for the U.S. cryptocurrency industry are expected to promote the growth of mining machine demand; 3) The development of the U.S. cryptocurrency industry may benefit the U.S. utility sector. (Source: Jin Shi Data)