Of course, for cryptographic practitioners and legal experts, the Securities and Exchange Commission’s guidance on the issuance of cryptographic monetary frameworks has, to some extent, increased regulatory transparency and is a positive step forward in regulation. At the same time, however, there is a consensus in the industry that the framework guidance does not clearly define some conceptual definitions, that there are still no clear rule requirements in some key areas, and that many issues remain to be discussed, such as the scope of application of the cryptographic guidance, what benefits start-ups can derive from the framework, and so on
It is also a common feeling among lawyers and regulatory experts in the blockchain industry.
Yes, the Securities and Exchange Commission’s release of the cryptographic monetary framework guidance is just the beginning. As early as six months ago, William Hinman, head of corporate finance William Hinman the Securities and Exchange Commission, claimed to develop new cryptographic framework guidance and wanted to use easy-to-understand language to give cryptographic startups a better understanding of regulatory ideas and help them determine whether their products would be identified as securities.