#ETH This wave of regulatory winds has suddenly changed, directly causing the entire crypto circle's adrenaline to surge——Should DeFi developers be protected as coders, or should they be punished mercilessly like financial institutions?

1. SEC's 180-degree shift in regulation: from 'iron fist strikes' to 'issuing immunity certificates'

In the past few years, the SEC has been ruthless, with the Gensler era frequently suing Uniswap and Coinbase, leading project teams to flee to Singapore overnight. However, at this roundtable meeting, the new chairman Paul Atkins directly threw out three major bombshell policies:

Miners and staking service providers are not considered securities intermediaries: PoW/PoS players can finally breathe easy; ETH2.0 staking annualized at 5%? The SEC won't stop you from collecting rent!

Declaration of code freedom: Writing open-source protocols = freedom of speech. Referring to the Tornado Cash case, Atkins directly compared it to autonomous driving—'We can't just arrest Musk because someone used a Tesla to commit robbery, right?'