US crypto regulation is accelerating. Even though the “CLARITY Act” has not been fully implemented yet, the CFTC is already preparing to use its existing authorities to advance rulemaking.
On October 4, CFTC Chair Michael Selig said that each regulator already has substantial statutory powers under current law, and going forward it will continue to issue regulatory rules to prepare for the digital asset market.
This statement sends an important signal: the US regulatory authorities do not intend to put all of their work on hold pending congressional legislation, and instead are prepared to move forward within the existing legal framework.
For the crypto market, this is both an opportunity and a test.
On the positive side, regulatory rules are gradually becoming clearer, which can help reduce policy uncertainty for institutions that participate in crypto markets. In particular, for trading platforms, digital commodities, and derivatives markets, if regulatory boundaries become more明确 in the future, traditional financial institutions may be more willing to participate.
However, regulatory progress should not be equated directly with a blanket positive for the entire sector. The CFTC relies on existing powers to set rules, and legal boundaries still remain. The division of responsibilities between the SEC and the CFTC, how rules are enforced, and any potential legal disputes that may arise later could all affect the pace at which policies take effect.
My view is that in the short term this is more about improving regulatory expectations, not a direct catalyst that can immediately drive BTC higher. What the market truly needs to watch is whether the rules can be implemented, and whether institutional capital continues to flow in as a result.
Three areas to focus on next: the timing of the CFTC’s specific rule releases, regulatory coordination between the SEC and the CFTC, and institutional capital flows such as those associated with spot BTC ETFs.
If the rules become gradually clearer and institutional capital continues to return, BTC could be the first to benefit. Then we can observe the subsequent capital rotation into ETH and projects related to compliant infrastructure.
Regulatory clarity is an important condition for the industry’s long-term development, but it does not mean that every token will benefit. What is truly worth paying attention to are projects that have real businesses, strong compliance capabilities, and sustainable revenue to support them.
Do you think the US will first push rulemaking through regulatory agencies this time, or will it ultimately still have to wait for the “CLARITY Act” to pass?
On October 4, CFTC Chair Michael Selig said that each regulator already has substantial statutory powers under current law, and going forward it will continue to issue regulatory rules to prepare for the digital asset market.
This statement sends an important signal: the US regulatory authorities do not intend to put all of their work on hold pending congressional legislation, and instead are prepared to move forward within the existing legal framework.
For the crypto market, this is both an opportunity and a test.
On the positive side, regulatory rules are gradually becoming clearer, which can help reduce policy uncertainty for institutions that participate in crypto markets. In particular, for trading platforms, digital commodities, and derivatives markets, if regulatory boundaries become more明确 in the future, traditional financial institutions may be more willing to participate.
However, regulatory progress should not be equated directly with a blanket positive for the entire sector. The CFTC relies on existing powers to set rules, and legal boundaries still remain. The division of responsibilities between the SEC and the CFTC, how rules are enforced, and any potential legal disputes that may arise later could all affect the pace at which policies take effect.
My view is that in the short term this is more about improving regulatory expectations, not a direct catalyst that can immediately drive BTC higher. What the market truly needs to watch is whether the rules can be implemented, and whether institutional capital continues to flow in as a result.
Three areas to focus on next: the timing of the CFTC’s specific rule releases, regulatory coordination between the SEC and the CFTC, and institutional capital flows such as those associated with spot BTC ETFs.
If the rules become gradually clearer and institutional capital continues to return, BTC could be the first to benefit. Then we can observe the subsequent capital rotation into ETH and projects related to compliant infrastructure.
Regulatory clarity is an important condition for the industry’s long-term development, but it does not mean that every token will benefit. What is truly worth paying attention to are projects that have real businesses, strong compliance capabilities, and sustainable revenue to support them.
Do you think the US will first push rulemaking through regulatory agencies this time, or will it ultimately still have to wait for the “CLARITY Act” to pass?