Third Meeting Highlights of #加密圆桌会议要点 2025

(1) New Custody Regulations

Theme: Discussing 'Understanding Your Custodian: Key Considerations for Crypto Custody'.

Market Expectations: Possible easing of existing restrictions (such as the repeal of the SAB 121 standard) to encourage more institutions to participate in custody services.

Industry Impact: If rule adjustments occur, it will directly affect the compliance of business models for platforms like Coinbase and Kraken.

(2) Tokenization Issues

Core Discussion: Defining the attributes of token securities, exploring how to convert assets such as stocks, bonds, and real estate into digital tokens (i.e., tokenization) through blockchain.

Potential Signals:

If certain tokens are explicitly classified as 'non-securities', this may accelerate the compliance process for exchanges.

Providing regulatory references for emerging fields such as DeFi and NFTs.

(3) Technological Trends and Industry Integration

Topics: The technological integration of traditional finance and decentralized finance (DeFi), such as how to utilize blockchain technology to optimize asset trading and regulatory compliance.

Industry Feedback: Emphasizing technological neutrality and regulatory adaptability, promoting innovation and stable development in the industry.