Recently, the most noteworthy topic in the crypto space is when the SEC will finalize the regulatory policies for 'staking' services.

What is staking? A one-sentence explanation:

It is when you lock up the tokens in your hand to help the blockchain operating system 'work', and as a reward, you receive more tokens. It's like earning interest on bank deposits, but instead, you are using coins to 'create' coins. You can make money while also enhancing the security of the blockchain.

However, the key issue now is: the SEC has not confirmed the rules and has not clearly stated whether it is legal or not.

It's like having a knife hanging over your head—businesses want to operate but dare not expand, and capital hesitates to move forward. You want to open a store, but the government has not granted a business license; would you dare to go all out?

In recent months, although the SEC's attitude has been more positive than before, it still has not provided a substantial regulatory framework. Moreover, the IRS has stated that 'staking income should be taxed as service income,' leading to controversy in the industry, and no one dares to innovate boldly. This is why coins like LDO, SSV, ETHFI, and EIGEN are hesitant to rise.

Uncertainty is the biggest risk.

It's like playing a card game where the rules have not been clearly explained; no one knows what to do next.

Currently, although there is high demand for new products like Ethereum ETFs and re-staking, and the market is very interested, most investors still choose to wait and see due to the lack of clear policies.

However, this situation may not be without turning points.

If the SEC can quickly introduce a clear regulatory framework, it would be a 'shot in the arm' for the market:

• Investors will be more willing to enter the market, and confidence will rise;

• Businesses can plan and innovate confidently;

• The entire industry will gain recognition from more mainstream funds and institutions, just like the internet entered the fast lane after a period of wild growth.

But if the SEC continues to delay, the development of the entire crypto market will be like a stalled engine—funds cannot flow in, projects cannot move, and innovation will be sealed off.

Therefore, we must closely watch the SEC's attitude going forward. This is like a crucial match where a referee's decision could determine the entire course of the game.

Especially if the door to 'legal staking' opens, combined with the prospect of future interest rate cuts by the Federal Reserve, massive funds could flood into the market like a tide, bringing about a significant market trend.