U.S. SEC Regulatory Trends
Since June 5, the U.S. SEC has consecutively filed lawsuits against Binance and Coinbase. What are the contents of the SEC's lawsuits? Can Binance and Coinbase weather the storm? What new policies will the SEC introduce for the cryptocurrency market?
21:01 A cryptocurrency market structure bill that offends everyone
In the eyes of capital, cryptocurrency is just another form of security.
19:10 The Cryptocurrency Market Structure Bill will be reviewed tomorrow night, with an in-depth analysis of four core controversies
The bill's vote marks a "deep integration" of Web3 with traditional power, where cryptocurrency is no longer a utopia for tech geeks, but the center of real power and capital games.
20:12 The New Era of Token Financing: A Milestone in U.S. Compliant Financing
The asset issuance in the cryptocurrency space is entering a new era of compliance.
11:48 Powell is about to step down. Who will be the next "money printer"?
From "Estée Lauder's son-in-law" to "Trump's loyalist," how will the potential successor's stance on cryptocurrency affect the market?
21:35 The U.S. SEC and CFTC join forces for the first time, potentially allowing perpetual contracts and a 24/7 market
Derivatives, prediction markets, and DeFi have become "policy-friendly sectors."
08:59 The SEC proposed a safe harbor for cryptocurrencies and reforms to broker-dealer rules
ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) has proposed a safe harbor for cryptocurrencies and reforms to the broker-dealer rules. The proposed rule changes could impact the SEC's guidance on broker-dealers, custody, and reporting, potentially allowing cryptocurrency companies to operate in the U.S. with less regulatory oversight and reducing the risk of legal action.The proposed rules include amendments to the Securities Exchange Act to "consider trading crypto assets on alternative trading systems and national securities exchanges," as well as modifications to the "broker-dealer financial responsibility rules," which could alleviate the reporting burden on cryptocurrency companies. While the impact of each proposal on the cryptocurrency industry varies, many proposals indicate that the commission will continue to soften its enforcement approach, establish a safe harbor, and restructure existing regulations to benefit relevant crypto projects.Paul Atkins stated, "This agenda covers potential rule proposals related to the issuance and sale of crypto assets to help clarify the regulatory framework for crypto assets and provide greater certainty to the market. We have withdrawn a series of initiatives from the previous administration that did not align with the goal of regulation being smart, effective, and appropriately calibrated within statutory authority."
09:27 Joint Attack: A Detailed Analysis of CFTC's "Crypto Sprint Initiative" and SEC's "Project Crypto" Strategic Blueprint
The entire industry is waiting for a landmark event, a signal to accelerate the transition from "establishing a friendly posture" to "fully laying down the rules."
10:01 The SEC states that liquid staking is not considered a security, marking a moment of capital restructuring between DeFi and Wall Street
The SEC believes that staking receipt tokens (such as stETH) serve only as proof of ownership, do not trigger the Howey test, and exempt protocols like Lido from registration requirements.
08:00 U.S. SEC: Liquid Staking is Not Within the Scope of Securities Law Regulation
ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission (SEC) stated in its latest guidance that certain liquid staking activities do not involve securities, and individuals engaging in liquid staking activities are not required to register with the agency under securities laws. Liquid staking parties that may not be subject to securities laws include Lido, Marinade Finance, JitoSOL, and Stakewise.The SEC pointed out that the issuance and sale of staking receipt tokens in specific ways and circumstances do not constitute the issuance and sale of securities, unless the deposit of crypto assets is part of an investment contract. This particularly applies to staking cryptocurrency through software protocols or service providers, and then receiving "liquid staking receipt tokens" to prove the staker's ownership of the staked crypto assets and any yields generated.Some experts believe that this guidance may prompt the SEC to approve the proposed spot Ethereum ETF's staking operations, as liquid staking tokens can help manage liquidity within the ETF, which had previously been a concern for the SEC. Additionally, this statement has significant implications for receipt tokens like cross-chain bridging, as some companies are seeking to modify the listing of Ethereum ETFs to allow staking.
18:29 CFTC launches "Crypto Sprint" program to accelerate the Trump administration's roadmap for cryptocurrency regulation
ChainCatcher news, according to The Block, the Commodity Futures Trading Commission (CFTC) of the United States announced today the launch of a special program called "Crypto Sprint," aimed at quickly implementing the policy recommendations released last week by President Trump's Digital Asset Market Working Group. CFTC Acting Chair Caroline Pham stated that the agency will work closely with the SEC to promote the on-chain transformation of the U.S. financial system, realizing the Trump administration's vision of "making the United States the world capital of cryptocurrency."This action is based on the Trump Working Group's comprehensive 168-page report, which focuses on clarifying individuals' rights to self-custody of cryptocurrencies, regulating the scope of banks' cryptocurrency activities, and granting the CFTC regulatory authority over the spot market for commodity-like crypto assets. The plan forms a policy synergy with the SEC's "Project Crypto," marking a new phase in U.S. crypto regulation from vague restrictions to proactive establishment.
