SEC tops on-chain fundraising topic again｜Exemptions are still a draft under consultation｜SOL around 118 and I won’t chase
My stance is to follow the rules first: we can study mechanisms as discussion heats up, but we can’t turn the regulator’s proposals into a “green light already given” for the Solana project. The current accurate top trend label on Binance Square is #SECToClarifyOnChainFundraisingRules; the expectation of “will clarify” is not the same as rules that the SEC has already formally put into effect.
The verifiable firsthand facts are: on August 18, the SEC proposed Regulation Crypto Assets. For investment contracts related to certain crypto assets, it plans to establish two types of securities registration exemptions: a startup exemption allowing fundraising not exceeding $5 million within four years, and another fundraising exemption allowing no more than $75 million per 12 months. The SEC’s rules page marks the document as “Proposed” and lists an October 20 comment deadline. Even if it is passed in the future, issuers would still need to make disclosures under the conditions, and the anti-fraud and anti-manipulation provisions would not disappear. What’s trending on the Square today is this topic—not that the SEC has newly approved all on-chain token financing today, nor that some specific Solana project has received permission. The SEC commissioner’s remarks match the amounts and status on the rules page, but the final text may still change.
Why does this affect SOL? Solana has more new asset issuance, payments, and tokenization business. If compliance fundraising pathways become clearer in the future, projects may be more willing to design issuance and subsequent disclosures around auditable infrastructure; on-chain activity might therefore increase. But “more projects qualify to try fundraising” doesn’t mean funds will necessarily flow into SOL, and it doesn’t mean network fees, validator revenue, or SOL valuation will grow in the same proportion. Only by seeing the final rules, the specific issuers, actual on-chain settlement, and ongoing demand can we connect policy options to price transmission. Right now, especially, we can’t simplify existing securities obligations into a slogan like “exempt as soon as it’s on-chain.”
On the price reaction side: at the time of writing, Binance SOL/USDT is about 118.28, with the rolling 24-hour change around -0.80%, ranging from 117.06 to 122.83. This pullback appears in parallel with the policy discussion, but it can’t prove the market rejects the proposal, and it can’t prove the proposal caused the drop. My key observation level is whether support near 117 holds, and whether SOL can regain stability above 120; if the top-trending topic continues but spot demand still lacks follow-through, sentiment and actual buy orders will clearly fall out of sync.
If this were my own trade, I wouldn’t participate. The plan would be a light spot long only after conditions are met; my current position is 0%. I’d use at most 0.3% of total funds for a trial entry, and no leverage. First target: 121.30, half off; second target: 122.60, close the remaining position. After entering, if price falls back to 119.50 within one hour, I’ll cut half; if it drops below 118.70, I’ll stop-loss and close the position fully. If price breaks down below 117 before I enter, the plan is cancelled. If the SEC ultimately deletes the related exemptions, or if compliance disclosures and actual adoption by projects cannot match reality, I would also overturn the view that “policy improvement can support SOL.” No trigger means no trade, and no profit.
Source: SEC proposal page and commissioner remarks, Binance spot rolling quotes.#SECToClarifyOnChainFundraisingRules #SOL
The above is only my personal market observation and does not constitute investment advice.
My stance is to follow the rules first: we can study mechanisms as discussion heats up, but we can’t turn the regulator’s proposals into a “green light already given” for the Solana project. The current accurate top trend label on Binance Square is #SECToClarifyOnChainFundraisingRules; the expectation of “will clarify” is not the same as rules that the SEC has already formally put into effect.
The verifiable firsthand facts are: on August 18, the SEC proposed Regulation Crypto Assets. For investment contracts related to certain crypto assets, it plans to establish two types of securities registration exemptions: a startup exemption allowing fundraising not exceeding $5 million within four years, and another fundraising exemption allowing no more than $75 million per 12 months. The SEC’s rules page marks the document as “Proposed” and lists an October 20 comment deadline. Even if it is passed in the future, issuers would still need to make disclosures under the conditions, and the anti-fraud and anti-manipulation provisions would not disappear. What’s trending on the Square today is this topic—not that the SEC has newly approved all on-chain token financing today, nor that some specific Solana project has received permission. The SEC commissioner’s remarks match the amounts and status on the rules page, but the final text may still change.
Why does this affect SOL? Solana has more new asset issuance, payments, and tokenization business. If compliance fundraising pathways become clearer in the future, projects may be more willing to design issuance and subsequent disclosures around auditable infrastructure; on-chain activity might therefore increase. But “more projects qualify to try fundraising” doesn’t mean funds will necessarily flow into SOL, and it doesn’t mean network fees, validator revenue, or SOL valuation will grow in the same proportion. Only by seeing the final rules, the specific issuers, actual on-chain settlement, and ongoing demand can we connect policy options to price transmission. Right now, especially, we can’t simplify existing securities obligations into a slogan like “exempt as soon as it’s on-chain.”
On the price reaction side: at the time of writing, Binance SOL/USDT is about 118.28, with the rolling 24-hour change around -0.80%, ranging from 117.06 to 122.83. This pullback appears in parallel with the policy discussion, but it can’t prove the market rejects the proposal, and it can’t prove the proposal caused the drop. My key observation level is whether support near 117 holds, and whether SOL can regain stability above 120; if the top-trending topic continues but spot demand still lacks follow-through, sentiment and actual buy orders will clearly fall out of sync.
If this were my own trade, I wouldn’t participate. The plan would be a light spot long only after conditions are met; my current position is 0%. I’d use at most 0.3% of total funds for a trial entry, and no leverage. First target: 121.30, half off; second target: 122.60, close the remaining position. After entering, if price falls back to 119.50 within one hour, I’ll cut half; if it drops below 118.70, I’ll stop-loss and close the position fully. If price breaks down below 117 before I enter, the plan is cancelled. If the SEC ultimately deletes the related exemptions, or if compliance disclosures and actual adoption by projects cannot match reality, I would also overturn the view that “policy improvement can support SOL.” No trigger means no trade, and no profit.
Source: SEC proposal page and commissioner remarks, Binance spot rolling quotes.#SECToClarifyOnChainFundraisingRules #SOL
The above is only my personal market observation and does not constitute investment advice.
