The United States strives to maintain a leading position in the digital finance transformation.

The chairman of the U.S. Securities and Exchange Commission ( SEC ) recently delivered a speech outlining the SEC's new initiatives to promote the U.S. as a global center for crypto assets.

The chairman stated that the SEC has officially launched the "Crypto Initiative," which is a comprehensive initiative aimed at promoting the migration of the U.S. financial markets to blockchain technology. The initiative will include the following aspects:

First, the SEC will establish a regulatory framework applicable to the issuance of crypto assets, providing clear guidance for innovators to help determine whether an asset falls within the category of securities. For crypto assets that meet the definition of securities, the SEC will formulate specific disclosure requirements and exemption provisions to encourage issuance within the United States.

Secondly, the SEC will revise existing custody rules to create a favorable environment for crypto asset custody service providers. At the same time, it will allow market participants to conduct diversified businesses under the most appropriate licensing structure.

Thirdly, the SEC supports the "super app" model, allowing securities intermediaries to provide a variety of cryptocurrency-related services on a single platform, streamlining the licensing application process.

Fourth, the SEC will pave the way for the application of on-chain software systems in the securities market, including decentralized finance ( DeFi ) and other intermediary-free systems.

Finally, the SEC plans to introduce an "innovation exemption mechanism" to allow new business models to quickly enter the market while ensuring the achievement of the core policy objectives of securities law.

The chairman emphasized that the SEC will work closely with other departments to jointly promote the United States as a global leader in crypto innovation. This is not only a transformation of the regulatory model but also an important opportunity across eras.