I just saw a piece of news that blew up the crypto world.

The new chairman of the U.S. SEC, Paul Atkins, publicly stated: "We need to establish a set of truly coherent regulatory rules for Bitcoin and the entire crypto industry. The SEC has turned the page on this."

This is not a polite remark. The policy is really turning around.

What was the situation in the first four years? Gensler's "tell you first and then talk" approach forced many projects to flee to Singapore and Dubai for refuge. And now? Atkins has made the rules clear, and capital and innovation are starting to flow back to the United States.

He has divided the crypto assets into four parts:
Digital commodities like Bitcoin are regulated by the CFTC; NFTs and purely utility tokens are exempt; only those tokenized securities that are truly tied to investment contracts fall under the jurisdiction of the SEC.

In plain terms, 90% of the projects can breathe a sigh of relief.

The worst is yet to come.
In 2026, the SEC will officially amend the Securities Exchange Act of 1934, allowing compliant crypto assets to be traded directly on exchanges and ATS systems; simultaneously introducing customized disclosure exemptions and safe harbor mechanisms, transforming the token issuance process from "gambling with one's life" to "following the rules."

This is not about easing restrictions, but about turning gray areas into clear runways.
Fraud still faces zero tolerance, but innovation is no longer regarded as criminal.
The United States is serious this time.
No empty talk, directly included "Global Crypto Capital" in the official plan.

This wave of policies is equivalent to issuing a "pass" for crypto assets. Who benefits the most? I'll rank them:

**Tier 1: Bitcoin (BTC)**
Completely defined as "digital commodities", the SEC has stepped back, and the CFTC has taken over. Institutions face no more compliance barriers, spot ETFs continue to attract capital, and with the halving cycle combined with favorable policies, the main upward trend has just begun.

**Tier 2: Ethereum (ETH) and other Layer 1 public chain tokens (such as SOL, AVAX, SUI)**
As long as the degree of decentralization is sufficient, it can be treated as a digital commodity. Staking does not equal securities, and institutions are willing to list and open ETFs, allowing funds to flow directly in.

**Tier 3: Quality DeFi and RWA tokens (AAVE, MKR, ONDO, PLUME, etc.)**
The safe harbor has arrived, and customized disclosures are now available. Issuing coins is no longer being indiscriminately attacked by the SEC. Compliance costs have dropped dramatically, institutional funds are willing to enter the market, and TVL and coin prices are expected to rise as a sign of respect.

The table has been reshuffled in this round.