After so many years of waiting, we have finally seen the U.S. regulatory body switch from a 'finding fault mode' to a 'green light mode'! This week, SEC Chairman Paul Atkins delivered a speech at the New York Stock Exchange that dropped a 'deep-water bomb' into the long-silent crypto circle, prompting many veteran players to exclaim, 'Is this the moment of sweet relief after the bitter struggle?' As an analyst immersed in the industry for eight years, I will take you through the underlying logic of this wave of policy benefits and its real impact on $BTC and the entire industry!
First, let’s highlight key points for both new and old investors: Atkins announced that the SEC plans to officially launch the 'Crypto Innovation Exemption' policy in January 2026. Don’t think this is just empty talk; over the past few years, the SEC's regulatory style has been incredibly 'simple and brutal'—they don’t negotiate rules, they just issue fines. This dark era is humorously referred to in the industry as 'enforcement replacing regulation.' The most typical example is that many teams clearly want to develop on-chain products, but due to the fear of crossing the red line of securities law, they either fail to launch or are forced to relocate to regulatory-friendly regions like Singapore or Hong Kong.
This time, the 'innovation exemption' is, to put it simply, a 'temporary pass' for crypto companies: during the compliance transition period, companies can safely launch on-chain products without being overwhelmed by complicated compliance processes from the start. How significant is this move? Let's do some 'hard calculations': in the past, a crypto company had to meet the SEC's securities compliance requirements, and just hiring a professional compliance team and preparing disclosure documents would cost millions of dollars, not to mention having to deal with investigations that could come at any time. With the exemption policy in place, these companies can focus their funds and energy on technological research and development, which is a 'rocket-level' boost to the innovation speed of the entire industry.
Now let me talk about my core view: this is definitely not the SEC suddenly having a 'conscience awakening', but rather the U.S. is engaging in 'strategic self-rescue' in the crypto field. Just look at the global landscape in recent years: the EU has the MiCA Act, and Singapore and Hong Kong have clear regulatory frameworks for crypto, with a lot of quality projects and funds flowing out. Atkins himself admits that this move is to 'rebuild the United States' global leadership position in blockchain innovation.' In simple terms, they don't want to watch others seize the juicy meat. Moreover, considering the previous friendly attitude of the Trump administration towards the crypto industry, and Atkins himself being a 'proponent' of the crypto circle, this policy wave is by no means a temporary whim but an important signal of the U.S. regulatory shift in crypto.
Some friends may ask: what impact does this have on $BTC? Don't rush, let me explain slowly. First, regulatory certainty is the 'doorstep' for institutional funds to enter. Why have many Wall Street giants been hesitant to enter the crypto field in the past? Because they fear one day the SEC suddenly knocks on the door and says, 'You are in violation.' Now that there is a clear regulatory path, traditional financial institutions, represented by Morgan Stanley and Charles Schwab, are likely to accelerate their layout. As the 'ballast stone' of the industry, $BTC will inevitably become the preferred target for institutional funds. In the long run, this is undoubtedly a significant positive.
But here I must pour a pot of cold water on everyone: don't think that once 2026 arrives, everything will be fine. The 'innovation exemption' is a 'temporary grace period', not a 'permanent exemption'; the core is still to find a balance between protecting investors and encouraging innovation. Moreover, based on historical experience, there may be many variables between the announcement and the implementation of U.S. regulatory policies. For example, the previous (Clear Act) encountered obstacles in the Senate due to regulatory authority division issues. So we must remain optimistic but not blindly follow the trend, as 'surprises' and 'shocks' in the crypto circle have always appeared in pairs.
Finally, let me say something from the heart: as an old player, I have witnessed the barbaric growth of the crypto circle and experienced the industry's winter under regulatory pressure. This time, the SEC's policy shift has given me hope for the industry's maturation. But remember, any policy dividend takes time to digest. What we can do is to strengthen our internal capabilities, hold onto our positions, and not be swayed by short-term market fluctuations. Follow me @链上标哥 , and don’t get lost!
