CLARITY法案
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SEC cuts losses! CFTC swallows trillion-dollar crypto market: CLARITY Act determines life and death tonight
CLARITY Act: The ultimate battle of regulation that has been split for ten years
SEC/CFTC jurisdiction reshuffle: Commodities belong to CFTC (spot regulation for Bitcoin, Ethereum, etc.), securities belong to SEC (ICO-type projects), completely ending the industry's nightmare of 'doing business while being sued' 36.
"Mature Blockchain" graduation mechanism: Public chains like ETH and SOL, if they meet decentralization + open-source + automated operation, will be classified as commodities, SEC regulatory shackles lifted! 310
DeFi immunity card
: Front-end protocols, node services, and wallet development are all exempt, Uniswap no longer fears the SEC knocking at the door at midnight 36.
Old Zhu summarizes: This wave is rolling out the red carpet for Wall Street—no more compliance barriers for traditional institutions entering the market!
SEC/CFTC jurisdiction reshuffle: Commodities belong to CFTC (spot regulation for Bitcoin, Ethereum, etc.), securities belong to SEC (ICO-type projects), completely ending the industry's nightmare of 'doing business while being sued' 36.
"Mature Blockchain" graduation mechanism: Public chains like ETH and SOL, if they meet decentralization + open-source + automated operation, will be classified as commodities, SEC regulatory shackles lifted! 310
DeFi immunity card
: Front-end protocols, node services, and wallet development are all exempt, Uniswap no longer fears the SEC knocking at the door at midnight 36.
Old Zhu summarizes: This wave is rolling out the red carpet for Wall Street—no more compliance barriers for traditional institutions entering the market!
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SEC makes a big statement! Cryptocurrency pledge is officially "de-securitized", and the industry welcomes major benefits!
On May 29, the U.S. Securities and Exchange Commission (SEC) Company Finance Division issued guidance, clarifying that crypto protocol pledge activities do not belong to securities issuance under federal securities laws, and participants do not need to register for transactions!
In its latest guidance, the SEC conducted an in-depth analysis of several major modes of cryptocurrency pledge, including self-pledge, third-party self-custody pledge, and custodial pledge. By applying the Howey test, the SEC concluded that pledge rewards stem from administrative activities under the rules of the protocol, rather than relying on the entrepreneurial efforts of others.
This means that the participants' benefits stem from their own compliance with the agreement, rather than relying on the commercial success of a third party, so it does not meet the definition of "investment contract". In short, the SEC believes that pledge is more like "providing services" rather than traditional investment behavior.
This decision by the SEC quickly sparked widespread discussion and enthusiastic response in the cryptocurrency industry. Christopher Perkins, president of CoinFund, welcomed the long-awaited clarity, while Nate Geraci, president of ETF Store, excitedly pointed out that this guidance cleared a key legal obstacle for the staking business of spot Ethereum ETFs.
On the same day, US lawmakers launched a bipartisan regulatory framework, the Digital Asset Market Clarity Act of 2025 (CLARITY Act), which aims to clarify the division of responsibilities between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in cryptocurrency regulation.
French Hill, chairman of the House Financial Services Committee, emphasized that the bill will provide much-needed regulatory clarity for the digital asset market and help the United States take a leading position in the global digital asset market.
In summary, this legislative move promoted by the US regulator marks an important step forward in the regulation of digital assets in the United States, providing a clearer legal environment for the healthy development of the industry.
The "rule reshaping moment" of the crypto market has arrived. Let us wait and see whether this wave of policy combinations will become a new starting point for the bull market!
#SEC #CLARITY法案 #质押去证券化 #区块链政策
On May 29, the U.S. Securities and Exchange Commission (SEC) Company Finance Division issued guidance, clarifying that crypto protocol pledge activities do not belong to securities issuance under federal securities laws, and participants do not need to register for transactions!
In its latest guidance, the SEC conducted an in-depth analysis of several major modes of cryptocurrency pledge, including self-pledge, third-party self-custody pledge, and custodial pledge. By applying the Howey test, the SEC concluded that pledge rewards stem from administrative activities under the rules of the protocol, rather than relying on the entrepreneurial efforts of others.
This means that the participants' benefits stem from their own compliance with the agreement, rather than relying on the commercial success of a third party, so it does not meet the definition of "investment contract". In short, the SEC believes that pledge is more like "providing services" rather than traditional investment behavior.
This decision by the SEC quickly sparked widespread discussion and enthusiastic response in the cryptocurrency industry. Christopher Perkins, president of CoinFund, welcomed the long-awaited clarity, while Nate Geraci, president of ETF Store, excitedly pointed out that this guidance cleared a key legal obstacle for the staking business of spot Ethereum ETFs.
On the same day, US lawmakers launched a bipartisan regulatory framework, the Digital Asset Market Clarity Act of 2025 (CLARITY Act), which aims to clarify the division of responsibilities between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in cryptocurrency regulation.
French Hill, chairman of the House Financial Services Committee, emphasized that the bill will provide much-needed regulatory clarity for the digital asset market and help the United States take a leading position in the global digital asset market.
In summary, this legislative move promoted by the US regulator marks an important step forward in the regulation of digital assets in the United States, providing a clearer legal environment for the healthy development of the industry.
The "rule reshaping moment" of the crypto market has arrived. Let us wait and see whether this wave of policy combinations will become a new starting point for the bull market!
#SEC #CLARITY法案 #质押去证券化 #区块链政策
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