Recently, the chairman of the SEC gave a speech about Project Crypto that sparked widespread follow in the Crypto Assets industry. This speech sent a clear signal: US regulators are seriously considering adopting a more proactive and inclusive approach towards the Crypto Assets industry.

For a long time, crypto assets projects have faced regulatory uncertainties. Whether issuing tokens, developing blockchains, building decentralized finance (DeFi) platforms, or launching non-fungible tokens (NFTs), project teams must remain vigilant against the regulatory risks posed by the SEC. Once classified as securities, projects may face high litigation costs or be forced to relocate their operations to other jurisdictions.

However, the content of this speech indicates that the regulatory environment may be undergoing a fundamental shift. Several key points are worth exploring in depth:

First, the SEC expressed a desire to attract encryption companies back to the United States. This statement undoubtedly gives hope to many projects that have chosen to register overseas due to regulatory pressure. After all, the United States, as a global financial center, has unparalleled advantages in capital markets and an innovative ecosystem. If they can operate legally in the United States, it will inject strong momentum into the entire industry.

Secondly, regulators recognize the need to adjust existing rules to accommodate the characteristics of blockchain technology. This means they are no longer trying to rigidly apply the regulatory framework of traditional securities markets to the crypto assets field, but are willing to tailor more suitable rules for this emerging market. This shift in attitude will help reduce friction between regulation and innovation.

Finally, the SEC has expressed an open attitude towards supporting comprehensive encryption applications and on-chain software systems. This could mean that in the future, users will be able to perform various Crypto Assets related operations on a unified platform without having to apply for licenses separately for each service or go through cumbersome approval processes. If this vision can be realized, it will greatly enhance user experience and promote industry development.

These signals undoubtedly make people optimistic about the future of the Crypto Assets industry. However, we also need to remain cautious and wait for the implementation of specific policies. Regardless, this speech by the SEC chairman marks a significant shift in the United States' encryption regulatory approach, which may herald a more inclusive and innovation-friendly regulatory environment on the horizon.