Recently, the US financial and crypto circles have exploded! The SEC (Securities and Exchange Commission) and OCC (Office of the Comptroller of the Currency) have been making big moves, basically saying: Blockchain, come on in, our traditional finance is ready to embrace you!
Let’s first talk about the SEC matter (which just happened on December 11):
The ‘big custodian’ of the US stock market, DTCC (Depository Trust & Clearing Corporation), received the SEC’s ‘no-action letter’ (which means the official said ‘I won’t interfere, I won’t penalize you’), allowing them to ‘tokenize’ traditional assets like stocks, ETFs, and US Treasury bonds — simply put, turning these assets into digital versions on the blockchain.
These digital assets have the same rights and legal protections as the originals and can be transferred directly on the blockchain (for example, from my wallet to yours). The benefits are numerous: transactions are faster, more transparent, potentially 24/7, collateral is more flexible, and they can even be programmed for automatic execution.
The plan is to officially launch in the second half of 2026, starting with small-scale trials on approved blockchains (L1 and L2) for 3 years. The assets covered include stocks of major US companies (Russell 1000), mainstream ETFs, and government bonds.
SEC Chairman Paul Atkins is super excited, stating this is an important step for 'on-chain capital markets,' and the future market will be more efficient and transparent, hinting that more innovation will be relaxed in the future. This signal is too strong; the US aims to seize the global leadership position in blockchain finance!
Speaking of the OCC matter (December 8-9):
OCC Chief Jonathan Gould made a clear statement at the blockchain summit: crypto companies wanting to obtain banking licenses should be treated equally to traditional financial institutions, without discrimination!
This year, the OCC has already received 14 new bank applications, many of which are for digital asset businesses, nearly equal to the total from the past four years. Gould stated that banks must keep up with the times, evolving from the telegraph era to the blockchain era. Custody of digital assets and electronic storage are no different from traditional methods, so don't block innovation.
At the same time, the OCC just issued an interpretative letter (No. 1188), clarifying that banks can engage in 'risk-free principal' cryptocurrency transactions (meaning intermediaries help clients buy and sell without taking on risk themselves).
What does the overall impact mean?
This operation by the US is essentially formalizing the inclusion of core assets like stocks and bonds on-chain while giving crypto companies the green light for banking licenses. Traditional finance (TradFi) and decentralized finance (DeFi) are set to gradually merge, leading to a future financial system that is more efficient, inclusive, and lower in cost.
This is not a small matter; the US is learning from the internet era's strategies: setting their own rules and leading global standards. China, Europe, and others need to keep up with the rhythm!
In short, another bull market signal has emerged, RWA (real-world assets on-chain) is about to take off! What do you think? Feel free to discuss~
Penguin Discussion Station original content, not investment advice.
