SEC

The U.S. House committees have introduced a preliminary draft of a cryptocurrency market bill that outlines the roles of the SEC and CFTC, establishes criteria for decentralization, and sets regulations for retail investor access.

This draft represents a significant advancement in the regulation of digital assets. Released on Monday, May 5, 2025, by the U.S.

House Financial Services Committee and the House Agriculture Committee, the document seeks to foster a more organized and transparent regulatory framework for cryptocurrencies and associated markets.
Clear Roles for US SEC and CFTC Crypto Market Bill
The proposed cryptocurrency market legislation delineates a clearer division of responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

According to the suggested framework, the SEC will be responsible for regulating digital assets classified as investment contracts, while the CFTC will manage digital commodities and their spot markets.

This strategy responds to issues raised in previous discussions regarding the Financial Innovation and Technology for the 21st Century Act (FIT21).

Justin Slaughter from Paradigm remarked on X, stating, 'In general, this bill would once again position the CFTC as the primary regulator for cryptocurrencies,' although he acknowledged that the SEC would maintain its authority until decentralization is established.

Furthermore, the legislation seeks to ensure that securities laws do not apply to digital commodities traded in secondary markets unless such transactions confer rights to the issuer's profits or assets to the buyer.


Definitions for Decentralization and Network Maturity
The draft of the cryptocurrency market bill includes a definitive test for decentralization.

A project should not be solely controlled by any one entity. If any entity possesses over 10% of the token supply, this must be disclosed while the network is still centralized.
A blockchain is considered 'mature' when it demonstrates utility, is fully developed, is open, adheres to transparent regulations, and is not under central control.

These definitions are intended to clarify the point at which networks shift from being subject to securities regulation to being classified under commodities regulation.
These criteria will aid both developers and regulators in determining the governance structure of a project throughout its lifecycle.
Investor Access and Regulatory Exemptions
The proposed cryptocurrency market legislation eliminates restrictions based on wealth and income for retail investors, thereby broadening access to the market.

This change removes the requirements for accredited investor verification and suitability assessments that were previously considered obstacles to wider engagement.

Furthermore, the draft specifies the registration process for digital commodity exchanges with the CFTC and introduces an optional early registration for issuers, promoting collaborative rulemaking between the US SEC, led by new chair Paul Atkins, and the CFTC.

Regarding decentralized finance (DeFi), the draft suggests exemptions for non-custodial protocols that do not have discretionary control over users' funds.
Stablecoin Definitions and Senate Challenges
Stablecoins are outlined in the proposed cryptocurrency market legislation without being classified as securities.

Nevertheless, a distinct stablecoin proposal has faced opposition in the Senate, with nine Senate Democrats recently retracting their support due to apprehensions regarding potential risks associated with new provisions.

Senator Chuck Schumer has expressed worries about the operations of Tether, a prominent stablecoin issuer, leading to uncertainty regarding the timeline for thorough regulation of stablecoins.

Representative French Hill remarked, 'Our discussion draft builds upon that work and offers essential regulatory clarity for the digital asset ecosystem.' Representative Glenn Thompson further noted, 'Regulatory clarity is long overdue in digital asset markets.

This marks the initial step towards establishing a comprehensive framework.' A hearing entitled 'American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century' is anticipated to delve deeper into the details of the draft.
Push for Capital Gains Tax Reform on Crypto Market
In conjunction with the unveiling of the draft legislation concerning the cryptocurrency market, there has been a notable rise in public discourse regarding the taxation of cryptocurrency transactions.

Stakeholders within the industry have advocated for a revision of the tax framework governing routine cryptocurrency usage in anticipation of the upcoming US SEC roundtable on cryptocurrency. Kristoph Jeffers expressed his views on X,
“Now let’s eliminate cap gains tax on Bitcoin so people can use it as currency.” Matthew Sigel, head of digital assets research at VanEck, replied, “Agreed. Hard to call it money if every purchase triggers a 1099.”
Sigel mentioned the current efforts in the Senate to implement a de minimis exemption via the Lummis-Gillibrand bill, which would permit small cryptocurrency transactions to remain untaxed.

He stated, 'A de minimis exemption for cryptocurrency transactions is long overdue and is already being developed.'

#CryptoNewss #SEC #CFTC #US #Market_Update

The latest crypto markets draft bill could democratize crypto participation due to a rule that would require crypto project members to disclose crypto token holdings above 1% of total supply.
The new “Digital Asset Market Structure Discussion Draft” introduced by House Republicans on May 5 could work to reduce the dominance of large crypto firms and promote more participation in the broader market, according to an executive from Paradigm.

The discussion draft, led by the House agricultural and financial services committee chairs Glenn Thompson and French Hill, is an “incremental, albeit meaningful, rewrite” of the Financial Innovation and Technology for the 21st Century Act (FIT21), Paradigm’s vice president of regulatory affairs Justin Slaughter said in a May 5 X post.

One of the major changes from FIT21 is that the draft defines an affiliated person as anyone who owns more than 1% of a digital commodity issued by the project — down from 5% in the FIT21 bill — a move Slaughter said may curb the influence of big crypto firms and lead to more participation in the crypto market.

“This is a portent of the entire bill. There are often criticisms of crypto being too dominated by a few large firms. This bill makes clear the regulatory regime proposed is going to push against that fact and strongly encourage more small-d ‘democratization’ of the space.”
The draft also defines a “mature blockchain system” as one that, together with its related digital commodity, is not under the “common control” of any person or group.

The Securities and Exchange Commission would be the main authority regulating activity on crypto networks until they become sufficiently decentralized, Slaughter noted.

The draft also clarified that decentralized finance trading protocols are those that enable users to engage in a financial transaction in a “self-directed manner.” Protocols that meet this criterion are exempt from registering as digital commodity brokers or dealers.

The draft also referred to digital commodities as “investment contract assets” to distinguish their treatment from stocks and other traditional assets under the Howey test.

According to Slaughter’s analysis, securities laws won’t be triggered unless the secondary sale of tokens also transfers ownership or profit in the underlying business.

Crypto firms would also have a path to raise funds under the SEC’s oversight while also having a “clear process” to register their digital commodities with the Commodity Futures Trading Commission, the committee members said in a separate May 5 statement.

Joint rulemaking, procedures, or guidelines related to crypto asset delisting must be established by the CFTC and SEC should a registered asset no longer comply with rules laid out by the regulators.
#StrategicBTCReserve #SEC
$BTC
$ETH
$XRP

The Securities and Exchange Commission (SEC) is set to conduct a roundtable on asset tokenization on May 12.
Bringing together prominent figures from the finance sector to explore the collaboration between decentralized finance and traditional finance, as well as regulatory considerations.
BlackRock And Fidelity Executives To Partake In SEC’s Crypto Roundtable
According to the press release from the SEC, a distinguished group of participants has been assembled.


This group includes executives from prominent traditional financial institutions as well as blockchain companies.

The event will host two primary panel discussions that will address various facets of asset tokenization.
The first panel, titled 'Evolution of Finance: Capital Markets 2.0,' will be moderated by Jeff Dinwoodie from Cravath and will feature notable executives from leading financial firms.

Robert Mitchnick will represent BlackRock, recognized as the largest asset manager globally.

Furthermore, BlackRock and Strategy have been competing to acquire Bitcoin, with Strategy recently purchasing 1,895 Bitcoin for $180 million.
Cynthia Lo Bessette will represent Fidelity, while Eun Ah Choi will stand in for Nasdaq.

Additional panelists in this session will include representatives from Invesco, Franklin Templeton, Apollo Management, the Tokenized Asset Coalition, DTCC, and SuperState.
SEC To Host Another Crypto Roundtable
Commissioner Hester M. Peirce, who heads the SEC’s Crypto Task Force, conveyed her eagerness for the forthcoming discussion.

She remarked that 'tokenization represents a technological advancement that has the potential to significantly transform various facets of our financial markets.'

The commissioner highlighted her keen interest in understanding the viewpoints of panelists regarding the SEC's strategy in this developing field.

The event on May 12 marks the third in a series of four roundtables concerning crypto asset regulation, which the commission announced in March.

The concluding roundtable is currently set for June 6, titled 'DeFi and the American Spirit.' The SEC has confirmed that all prior registrations have been moved to the new date.

The tokenization roundtable is scheduled to take place from 1:00 p.m. to 5:30 p.m. and will be open to the public both in person and through a webcast on the SEC’s website.

Attendees wishing to participate in person must register beforehand, while online viewers can access the livestream directly on the day of the event via the SEC’s website. The session will commence with introductory remarks from Richard B.

Gabbert, Chief of Staff of the Crypto Task Force, followed by a keynote address from SEC Chairman Paul S. Atkins. Additional commissioners, including Caroline A. Crenshaw, Mark T. Uyeda, and Hester M. Peirce, will also provide remarks to initiate the panel discussions.

The Commission established the Crypto Task Force on January 21 under the leadership of then-Acting Chairman Mark T. Uyeda.


This announcement from the SEC occurs in the context of increasing applications for crypto ETFs, with VanEck recently submitting an S1 form to the commission for a BNB ETF.

#blackRock #Fidelity #NASDAQ #SEC #MarketSentimentToday

The meme king Dogecoin (DOGE) is once again in the spotlight—and this time it’s serious. Investor excitement surged after Nasdaq officially filed to list the 21Shares Dogecoin ETF. If this fund were to attract even 30% to 50% of the capital inflow seen by Bitcoin ETFs, DOGE could realistically skyrocket to $0.50 or beyond. Could the long-awaited $1 milestone finally be within reach?

Dogecoin Gains Momentum Alongside Growing ETF Speculation
While Bitcoin is going through a slight correction, Dogecoin is quietly outperforming. Over the past 24 hours, DOGE rose 2.3% to $0.173, outpacing both BTC and Ethereum. Over the past week, DOGE gained 5%, compared to Bitcoin’s 1.1% and Ethereum’s 2.1%.
Traders are closely watching for a break above the $0.18 resistance, with anticipation growing as the key June 15 SEC decision date approaches. That’s when regulators are expected to issue rulings on DOGE ETF applications.

DOGE ETF Could Unlock Billions in Inflows
On April 30, Nasdaq submitted a request to the U.S. Securities and Exchange Commission (SEC) to approve the listing of the 21Shares Dogecoin ETF. The fund would hold DOGE directly—no leverage, derivatives, or synthetic exposure. Coinbase Custody Trust is named as the official custodian, and the ETF would track the CF DOGE-Dollar Settlement Price Index.
The filing comes shortly after asset manager 21Shares submitted an S-1 registration in cooperation with House of Doge, the corporate entity tied to the Dogecoin Foundation.
Although the ETF hasn’t been approved yet, analysts are already speculating: if DOGE ETFs attracted even 30% to 50% of Bitcoin ETF inflows (around $40 billion to date), it could mean an influx of $12 to $20 billion.

What Would That Mean for DOGE Price?
Dogecoin currently has a market cap of $24 billion. An additional $12 to $20 billion in capital could more than double its market value. If investor behavior mimics what we saw with Bitcoin ETFs, analysts estimate:
🔹 $0.34 DOGE price with $12B in ETF inflows

🔹 $0.50 DOGE price with $20B in ETF inflows
That’s a +95% to +190% increase from today’s levels. And some DOGE supporters are already dreaming: “If this gets approved, $1 isn’t a meme—it’s a milestone.”

June 15: SEC Decision Could Be a Game Changer
Applications from Bitwise and 21Shares/Nasdaq have a decision deadline set by the SEC for June 15. If either ETF is approved, Dogecoin could transition from being just a meme coin to a regulated financial asset, opening the doors to institutional capital, retirement accounts, and RIA-managed portfolios.
In April, Bitcoin ETFs broke records with massive single-day inflows—$936.5 million on April 22, followed by $917 million on April 23.
If a Dogecoin ETF follows a similar trend—and given DOGE’s pop culture status, strong retail community, and wide exchange availability, it just might—this could be Dogecoin’s entry point into mainstream finance.

📌 Summary:
🔹 Dogecoin ETF could attract up to $20 billion in inflows

🔹 DOGE price could rise to $0.34–$0.50

🔹 SEC decision expected on June 15

🔹 DOGE is outperforming BTC and ETH

🔹 ETF approval could bring institutional adoption to the meme coin

If Dogecoin’s ETF is approved, will it become a legitimate financial instrument—or remain a cultural icon with real-world consequences?

#DOGE , #crypto , #memecoin , #etf , #SEC

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Token SUI – được mệnh danh là “kẻ thách thức Solana” – vừa ghi nhận mức tăng giá 9,3% lên 3,73 USD sau khi công ty quản lý tài sản số 21Shares chính thức nộp hồ sơ lên Ủy ban Chứng khoán và Giao dịch Mỹ (SEC) để xin phê duyệt quỹ ETF theo dõi giá SUI.

Chi tiết sự kiện:

21Shares vừa:

Đệ trình hồ sơ thành lập #SuiETF tại Mỹ.

Công bố quan hệ đối tác chiến lược với blockchain Sui, bao gồm hợp tác phát triển sản phẩm và nghiên cứu.

Mục tiêu của ETF là:

Tạo cầu nối cho nhà đầu tư tổ chức tiếp cận token SUI dễ dàng hơn.
Củng cố vị thế của SUI như một giải pháp layer-1 nổi bật với tốc độ xử lý giao dịch cao.

ETF này sẽ không có phần thưởng staking – điều trái ngược với sản phẩm cùng tên đang được 21Shares phát hành tại châu Âu (trên sàn Euronext Amsterdam và Euronext Paris), nơi nhà đầu tư vẫn được hưởng phần thưởng staking từ SUI.

Coinbase sẽ đóng vai trò lưu ký tài sản cho ETF này, theo nội dung trong hồ sơ gửi lên SEC.

Giá SUI phản ứng mạnh:

Chỉ trong 24 giờ sau thông tin trên, giá $SUI đã tăng 9,3% lên 3,73 USD (so với mức khoảng 3,39 USD trước đó).
Trong 14 ngày gần nhất, SUI đã tăng tổng cộng khoảng 80%, mặc dù vẫn còn thấp hơn đỉnh giá 5,35 USD từng đạt vào tháng 1/2025.

Bối cảnh thị trường và động thái từ SEC:

Canary Capital cũng từng đệ trình một ETF tương tự cho SUI vào tháng 3, dự kiến niêm yết trên sàn Cboe. Sàn này hiện đã gửi đề xuất thay đổi quy tắc giao dịch lên SEC – một bước quan trọng trong quá trình phê duyệt.

Trong khi đó, #SEC vẫn đang trì hoãn quyết định đối với các ETF khác như Dogecoin và XRP – ít nhất đến tháng 6.

21Shares cũng là đơn vị tích cực theo đuổi các ETF crypto khác tại Mỹ, gồm:

Dogecoin ETF

XRP ETF

Polkadot ETF


Liên hệ với thị trường crypto:

Động thái mới nhất từ #21Shares cho thấy cuộc đua ETF crypto tại Mỹ đang ngày càng mở rộng ra ngoài Bitcoin và Ethereum, khi ngày càng có nhiều tổ chức quan tâm đến các blockchain layer-1 tiềm năng như Sui. Với đà tăng giá mạnh mẽ và sự hậu thuẫn từ những tên tuổi lớn như 21Shares, SUI có thể sẽ nổi lên như một lựa chọn hàng đầu trong danh mục đầu tư của các nhà đầu tư tổ chức nếu ETF được phê duyệt.

Với người dùng Binance, việc theo dõi các diễn biến ETF như SUI có thể gợi ý xu hướng dòng tiền lớn và giúp định vị chiến lược đầu tư phù hợp – đặc biệt khi thị trường đang dần chấp nhận nhiều loại tài sản crypto ngoài Bitcoin.

Cảnh báo rủi ro: Thị trường tiền mã hóa có biến động mạnh và tiềm ẩn nhiều rủi ro. Thông tin trong bài viết không mang tính khuyến nghị đầu tư. Người dùng nên tự nghiên cứu kỹ lưỡng và cẩn trọng khi ra quyết định.