#加密货币监管框架# Looking back at the regulatory journey of encryption over the years, one can't help but feel a mix of emotions. From the initial chaos to the current collaboration between the CFTC and SEC, the American regulatory framework has finally revealed a glimmer of hope. This "encryption sprint" initiative is undoubtedly a heavy blow that has opened the door to compliance for spot encryption assets. In the past, spot trading was still a gray area, and institutions hesitated to enter. Now, the CFTC has taken the initiative to create a legal pathway for DCM platform, which not only instills confidence in investors but also brings institutional opportunities to the entire industry.

It is particularly worth mentioning the collaboration between regulatory agencies. In the past, the SEC and CFTC operated independently, leaving project teams exhausted. Now, the two have joined forces to clarify the attributes of encryption assets, which is a comforting change. It signals that the United States is shifting from passive defense to active embrace, providing unprecedented institutional benefits for the Web3 ecosystem.

However, opportunities and challenges coexist. In the short term, compliance costs may rise, and some gray platforms may be eliminated. But in the long run, this is undoubtedly a necessary path for the industry to mature. For project parties, now is a critical moment to participate in rule-making and shape the future. It is recommended that all parties actively respond to the CFTC's request for comments and contribute to building a fair and transparent encryption regulatory system.

History is always strikingly similar. Looking back at the bustling scene when Bitcoin futures were approved for listing in 2017, wasn't it the beginning of a turning point for the industry? I believe that in the near future, we will also be proud of today's changes. After all, only by embracing Compliance can encryption truly move towards the mainstream and realize the great vision of blockchain technology.