The U.S. House of Representatives will vote on the HR4760 bill at the end of this month, which is of great significance in the field of cryptocurrency regulation. According to the bill, cryptocurrencies will be regulated according to the characteristics of their blockchains. If their blockchains are fully functional and decentralized, they will be regulated as commodities by the Commodity Futures Trading Commission (CFTC); conversely, if their blockchains do not have decentralized characteristics, they will be regulated as securities by the U.S. Securities and Exchange Commission (SEC). This move is aimed at ensuring the healthy development of the cryptocurrency market and the protection of investors' rights and interests.