The SEC finally relented! Is the U.S. ready to 'embrace crypto'? This time it might really be different.
After watching the full speech by the SEC chairman on 'Project Crypto' last night, I just want to say one thing:
The U.S. might really be serious this time. For the past few years, the word 'regulation' has hung over all projects like the sword of Damocles.
As long as the SEC says 'this thing is a security,' you either spend money on lawsuits or run away to the Cayman Islands or Singapore, directly excluding U.S. users with KYC, making the entire industry feel insecure.
But this time, the wind seems to have changed.
Highlight 1: The U.S. wants to 'bring crypto companies back' 'We hope real Web3 innovation happens in the U.S.'
This statement directly hits the pain point.
Do you know how many projects have founders in California, teams in Silicon Valley, yet don’t dare to open access to U.S. users?
KYC is a one-size-fits-all approach, banning all U.S. IPs. This is not normal.
The U.S. is clearly the strongest capital market in the world, yet it has become a high-pressure zone for crypto entrepreneurs.
Now they finally realize—if they allow talent and funds to flow away, Web3 will indeed become 'a U.S. product, taking off in Asia.'
Highlight 2: Regulation needs to adapt to blockchain logic, what was it in the past?
Taking old rules designed for securities decades ago and rigidly applying them to blockchain projects.
The result is: whether you are building protocols, writing contracts, or simply issuing a token to test an idea, you are all treated as securities.
This has made developers tread carefully, financing must be done secretly and circuitously.
This speech finally proposed—a new set of rules tailored for the crypto world, rather than directly copying old systems.
Behind this is an upgrade in the U.S. regulatory understanding that blockchain is 'not securities 2.0, but a new system.'