The recent shift in regulatory sentiment has caused adrenaline levels in the entire crypto space to surge—should DeFi developers be protected like coders or penalized harshly like financial institutions?

1. SEC's 180-degree regulatory shift: from 'iron fist crackdown' to 'granting immunity'

In the past few years, the SEC has been particularly harsh, with Gensler's era frequently suing Uniswap and Coinbase, forcing project teams to flee to Singapore overnight.

But at this roundtable meeting, the new chairman Paul Atkins directly unleashed three major bombshell policies:

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

The declaration of code freedom: writing open-source protocols equals freedom of speech. Referencing 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?'