The U.S. Securities and Exchange Commission (SEC) has sent a strong positive signal to the market centered around ETH by shifting its stance on DeFi. At the latest crypto task force roundtable on the 9th, Chairman Paul Atkins emphasized that "economic freedom, property rights, and innovation are the DNA of the DeFi movement" and stated that this industry aligns with core American values.
This statement pointed out the limitations of traditional securities regulation, explaining that decades-old regulatory frameworks do not match blockchain systems operating through automated execution software. In particular, criticism was raised about how the previous administration had suppressed blockchain participants through lawsuits and warning statements targeting blockchain participants and staking service providers.
Chairman Atkins officially confirmed that blockchain participants such as miners, validators, and staking service providers who voluntarily participate are not subject to securities law. He also definitively stated that "publishing staking code or distributing cryptocurrency wallet software does not constitute brokerage activity". This is seen as a realistic acknowledgment of the autonomous operational structure of various protocols, including the Ethereum network.
He then provided instructions to "prepare specific guidelines for registered entities to transact with blockchain systems" and proposed regulatory amendments to accommodate on-chain financial systems. He specifically mentioned introducing an 'innovation exemption' that would provide regulatory relief for those meeting certain conditions. He assessed that this could realize the vision of the United States as a 'cryptocurrency capital' mentioned by President Trump.
Former Ethereum developer Eric Conner said upon hearing the news, "Ethereum has achieved a clear victory in terms of staking regulatory clarity, self-custody of assets, and open-source infrastructure", and predicted that the United States could establish itself as a country with clear regulatory direction.
Currently, Ethereum is the benchmark platform for the DeFi industry, holding $68 billion in on-chain value and occupying 55% of the entire market - a market share that cannot be surpassed even by combining all other blockchains.
Following this policy shift announcement, Ethereum's price was also sensitive. On the morning of the 10th in Asian time, ETH surged 8% compared to the previous day, recording $2,720, but showed some pullback after encountering resistance levels seen over the past month. Analysis suggests that sustained rebound would require breaking through $2,800.
The SEC's drive in this policy is expected to herald substantial changes in the Web3 industry within the United States and serve as an opportunity to redefine America's status in the global cryptocurrency industry.
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