#加密圆桌会议要点

Core Controversies of the Cryptocurrency Regulatory Roundtable: The SEC held its first meeting on April 11, focusing on exchange compliance frameworks and stablecoin classifications. The main point of contention is whether to continue using the 'Howey Test' to determine the securities characteristics of tokens. The congressional roundtable on May 8 emphasized the urgency of legislation, with both parties calling for the 'Cryptocurrency Asset Market Act' to be enacted within the year, but there is still no consensus on how DeFi protocols apply to traditional securities laws. The industry is generally concerned that existing regulatory tools are difficult to adapt to the characteristics of on-chain transactions.