The Commodity Futures Trading Commission (CFTC) of the United States announced that it will adopt Nasdaq's market surveillance system, intending to strengthen regulation of the cryptocurrency market to prevent fraud and market manipulation.

This news is quite interesting; on one hand, the regulatory hammer has been raised a bit higher, and on the other hand, it signals that the regulators no longer see crypto as a small-scale wild land, but are ready to treat it with the tools of mature financial markets (like Nasdaq). This is a form of 'recognition', although it may come with some growing pains.

In the short term, this may put pressure on some projects and trading platforms that have become accustomed to wild growth. But in the long term, a more regulated market environment is a necessary condition to attract large institutional funds.

The CFTC's move is actually paving the way for a larger-scale cryptocurrency financial market in the future. Compliance will be the main theme of the industry in the coming years; those who do not embrace regulation may ultimately be eliminated.