The U.S. SEC has once again postponed the ruling on the physical redemption mechanism for $BTC and #ETF to September 8, continuing its consistent stance of cautious regulation in the cryptocurrency field. Physical redemption allows investors to directly exchange underlying cryptocurrencies, which, while improving efficiency, raises the SEC's deep concerns about asset security and market manipulation. Essentially, this is a test of the regulatory trust in whether the native cryptocurrency system can seamlessly connect with traditional finance.
Now, against the backdrop of the Biden administration strengthening cryptocurrency regulation, the SEC is conducting multiple reviews of #DeFi, competitive coins, and various ETF applications, while also setting a new review timetable for Ethereum trusts. The traditional financial giant BlackRock is actively positioning itself amid the strong market demand for compliant tools, creating a tug-of-war with the conservative regulatory attitude. Particularly subtly, the recent contrary rise in BTC and $ETH prices suggests that the market is betting on an increased expectation of the SEC ultimately reaching a compromise.
