Author: AIGC

Translation: AI Editorial Department, Techub News

After years of regulatory ambiguity and legal disputes, the latest regulatory direction released by the U.S. Securities and Exchange Commission (SEC) may open a new growth cycle for the cryptocurrency market. This is especially true for core mechanisms such as Initial Coin Offerings (ICO), Decentralized Finance (DeFi), and self-custody of digital assets, as it proposes a more flexible and inclusive regulatory framework, paving a clear path for compliant innovation in the crypto industry.

1. Self-Custody Rights Recognized by SEC, U.S. Crypto Users Benefit the Most

The SEC's latest statement positively affirms the core status of "self-custody" of digital assets in personal property rights — a fundamental part of the U.S. free market. The SEC Chairman clearly stated that every user should have the right to decide how to hold and manage their crypto assets, including staking, trading, and other on-chain activities through self-custody wallets.

This attitude will greatly encourage the development of crypto applications based on personal sovereignty and create vast opportunities for wallet developers and self-custody service providers. Users will no longer need to rely on centralized exchanges to participate in network governance, staking rewards, and DeFi interoperability, leading to a transformation in user behavior from "access" to "sovereign control" of crypto applications.

2. DeFi and AMM Ecosystem Gain Regulatory Tolerance, On-Chain Finance Enters Grey Area Compliance

For a long time, DeFi and Automated Market Makers (AMM) could not be easily integrated into existing regulatory frameworks due to their decentralized nature and the absence of traditional financial intermediaries. However, the SEC has now acknowledged that the design thinking of traditional federal securities law, which is based on intermediary governance, should not be forcibly applied to on-chain automated systems. This means that as long as a protocol exhibits "decentralization" and achieves a sufficient level of autonomy and transparency, its developers may expect pre-emptive compliance exemptions or safe harbor protections.

This shift means that developers no longer need to overly centralize protocol technology just to adapt to regulatory mechanisms; instead, they can return to the original purpose of DeFi — defining trading rules through code. This will unleash significant innovative potential for core DeFi components such as AMM, market prediction, and lending protocols, while also reducing the legal uncertainties faced by U.S. development teams.

3. New Compliance Ecosystem for ICOs Emerges, Airdrops and Network Rewards Will Also Benefit

Perhaps the most exciting news is the SEC's new disclosure and safe harbor recommendations for three major methods of financing and token distribution in the crypto market — Initial Coin Offerings (ICO), Airdrops, and Network Rewards — aimed at establishing "clear boundaries and actionable" exemptions and compliance guidelines.

Under this new framework, legitimate ICOs and airdrops will no longer be excluded from U.S. investors due to compliance costs and litigation risks, but will have the opportunity to re-enter this largest capital market globally. For startup protocols, this means they can incentivize contributors and community members through token models while mobilizing early capital under controlled compliance risks.

Although the SEC has not yet released a comprehensive plan for specific disclosure standards, the overall direction clearly points to: future ICOs that can provide sufficient disclosure, transparent governance, and registered safe harbor procedures may receive regulatory tacit approval.

The Cambrian Explosion of Crypto Innovation is About to Restart

As the SEC begins to consider providing a regulatory "adaptation layer" from the perspective of mechanism design, rather than merely imposing traditional central governance logic on-chain, the new ecosystems of ICOs, DeFi, and wallet-layer innovations are expected to reignite. The future may no longer see startup teams avoiding the U.S. market in favor of legally friendly offshore structures, but rather achieving a truly regulated, scalable crypto economic model that does not sacrifice the spirit of decentralization under the leadership of the SEC.

We may be witnessing a self-upgrade of regulatory policies — a regulatory dividend period that could ignite the next wave of Web3 entrepreneurial ventures.

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