# Сопутствующие статьи по теме Regulation

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Regulation", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Web3 Inside and Outside the Great Wall: The Triple Impact and Solutions for Chinese Entrepreneurs

Chinese Web3 entrepreneurs, once dominant in the crypto industry with leading exchanges and mining ventures, have seen their global influence decline significantly since the DeFi Summer of 2020. This shift stems from three major challenges: stringent regulatory crackdowns in China, which dismantled local ecosystems and forced migration overseas; a structural bias in venture capital favoring Western projects due to compliance advantages and better exit opportunities; and a mismatch in skill sets, as many Chinese developers excel in B2C applications rather than the infrastructure-focused B2B nature of recent Web3 development. While culturally diverse founders like Hyperliquid’s Jeff Yan show that Chinese-background innovators can still succeed, they often do so by integrating into Western cultural and operational frameworks. The future of crypto entrepreneurship will depend less on geographic origin and more on cross-cultural collaboration, long-term technical commitment, and adaptive resilience in a rapidly evolving regulatory landscape.

marsbit12/17 09:04

Web3 Inside and Outside the Great Wall: The Triple Impact and Solutions for Chinese Entrepreneurs

marsbit12/17 09:04

DeFi Trend Shifts: Stablecoin Public Chains Recede, RWA Faces Critical Regulatory Window

Crypto market sentiment is currently bearish, with many traders predicting Bitcoin could fall below $50,000. Attention and capital are shifting toward AI, away from crypto. The author’s strategy has shifted toward holding mostly BTC and ETH, along with a few cash-flow-generating alts like AAVE and LINK, avoiding speculative public chains and L2s. Key topics discussed: - Aave faces governance tension between Aave DAO and Aave Labs, reflecting broader DeFi governance challenges. - Aave V4 introduces improved liquidation mechanisms. - Stablecoin-focused Layer 1 blockchains are struggling to gain market share against established chains like Ethereum and Tron. Their real potential lies in onboarding off-chain users, not competing internally. - RWA and stock tokenization gain momentum after the SEC approved DTCC’s tokenization plan. Ethereum and L2s are seen as compliant options. This development is viewed as a net positive for the sector, including projects like Ondo Finance. - Ondo uses a clever system with its own stablecoin, USDₒ, to enable large on-chain tokenized stock trades without relying on external liquidity. - Ethena’s Season 4 airdrop requires users to deposit and trade on HyENA to qualify, aiming to boost its perps trading platform. - Tempo, developed by Stripe and Paradigm, has launched its testnet, targeting efficient stablecoin payments with major enterprise partners.

比推12/17 07:09

DeFi Trend Shifts: Stablecoin Public Chains Recede, RWA Faces Critical Regulatory Window

比推12/17 07:09

$93 Million Casually Misappropriated? The Truth Behind the Stream Finance Collapse

Stream Finance, a DeFi yield protocol with over $200M TVL, collapsed on November 4, 2025, after announcing a $93M loss caused by an "external fund manager." Its stablecoin xUSD plummeted 77%, triggering a $285M contagion across lending protocols like Morpho and Euler, leading to a $1B DeFi outflow. Initially blamed on "Curator" risk managers, the truth emerged from a December 8 lawsuit: founder Caleb McMeans had transferred protocol control to trader Ryan DeMattia with "no formal relationship." On October 10, DeMattia’s personal leveraged positions were liquidated during an ETH crash, and he allegedly used Stream’s funds to cover his losses—weeks before the Balancer hack (November 3) was falsely cited as the cause. The disaster was amplified by xUSD’s recursive lending structure but rooted in unregulated, off-chain asset control without multisig or custody safeguards. The incident highlights DeFi’s vulnerability to opaque operations and personal misconduct, not systemic failure of Curator models or yield strategies.

marsbit12/17 03:06

$93 Million Casually Misappropriated? The Truth Behind the Stream Finance Collapse

marsbit12/17 03:06

Compliance Guide for Utility Token Issuance

"Functional Token Issuance Compliance Guide" This guide outlines the legal framework for issuing utility tokens, emphasizing that regulatory risk depends not on the token's description, but on its economic reality. A token's classification as a security is determined by market behavior and investor expectations, not technical promises, as seen in cases like Telegram's TON. Projects fall into two main categories with different compliance paths: Infrastructure projects (e.g., Bitcoin, Celestia) often use fair launches for lower risk, while Application-layer projects (e.g., DeFi, GameFi) require careful legal structuring due to higher regulatory scrutiny. Key stages and actions are detailed: * **Testnet Phase:** Separate development (DevCo) and token/ecosystem (Foundation) entities. Use equity + token warrants for fundraising, not direct token sales, to avoid triggering securities laws prematurely. * **Mainnet Launch (TGE):** This is a high-risk phase. Ensure clear disclosure of token utility, allocation, lock-ups, and conduct KYC/AML. Avoid marketing that promises profit. Public airdrops and sales are closely watched. * **DAO Stage:** Achieve true decentralization by relinquishing team control to community governance (e.g., Uniswap DAO). This "verifiable exit" is crucial for reducing securities risk. The core compliance challenge is proactively demonstrating the token is *not* a security by emphasizing its functional use, avoiding profit promises, and progressively decentralizing. Compliance is a continuous process, not a one-time approval. A robust legal structure is the essential foundation for a sustainable project.

marsbit12/17 02:11

Compliance Guide for Utility Token Issuance

marsbit12/17 02:11

Stablecoins May Become the 'Scapegoat' for Many Countries? Bitwise Releases Top 10 Crypto Predictions for 2026

Bitwise's "10 Crypto Predictions for 2026" presents a bullish outlook for the cryptocurrency market, driven by institutional adoption and regulatory progress. Key forecasts include Bitcoin breaking its four-year cycle to reach new all-time highs, with volatility potentially falling below that of Nvidia. ETFs are expected to absorb over 100% of new Bitcoin, Ethereum, and Solana supply, fueling price gains. Crypto stocks are predicted to outperform tech stocks, while Polymarket’s open interest will hit record highs. Stablecoins, likely to exceed $500 billion in market cap, may be blamed for currency instability in emerging markets. On-chain vaults (ETF 2.0) could double in assets. If the CLARITY Act passes, Ethereum and Solana may surge to new peaks. Half of Ivy League endowments are expected to invest in crypto, and over 100 crypto-related ETFs could launch in the U.S. A bonus prediction suggests Bitcoin’s correlation with stocks will decline.

比推12/16 18:29

Stablecoins May Become the 'Scapegoat' for Many Countries? Bitwise Releases Top 10 Crypto Predictions for 2026

比推12/16 18:29

Restructuring Consensus in the Crypto Market

In 2025, the cryptocurrency market is experiencing a structural transformation across three key dimensions: the form, meaning, and use of money. First, the form of money is diversifying. Stablecoins, tokenized bank deposits, and CBDCs are coexisting with distinct roles. Payment infrastructure and IT platforms are rapidly adopting stablecoins to expand their ecosystems. Second, the concept of money is broadening. Tokenization is converting both tangible assets (like bonds and real estate) and intangible elements (like attention and predictions) into liquid, programmable assets. This blurs the line between money and assets, redefining value representation. Third, the use of money is expanding. Centralized exchanges (CEXs) like Binance, Bybit, and Coinbase are evolving into full-stack financial ecosystems. They now offer derivatives, tokenized stocks, RWAs, on-chain debit/credit cards, and integrated DeFi services. These platforms are building their own blockchains (e.g., BNB Chain, Base) to create vertically integrated environments. Overall, the shift from speculative concepts to practical reality is accelerating. Regulatory clarity, institutional adoption, and technological integration are driving this change, positioning blockchain as the future core of global finance.

深潮12/16 14:33

Restructuring Consensus in the Crypto Market

深潮12/16 14:33

The New York Times: After Trump's Return to the White House, Major Retreat in SEC's Crypto Lawsuits

In a significant policy reversal following Donald Trump's return to the White House, the U.S. Securities and Exchange Commission (SEC) has dramatically scaled back its enforcement actions against the cryptocurrency industry. An investigation by The New York Times found that over 60% of ongoing crypto-related cases were either paused, settled favorably, or dropped entirely under the new administration. Key findings include the SEC dropping seven crypto cases, five of which involved firms with known financial ties to Trump. An additional seven cases saw reduced charges or lenient settlements, with three linked to Trump associates. The remaining nine active cases involve entities with no known connection to the former president. The SEC stated its shift was based on legal and policy considerations, not political favoritism, citing long-standing internal opposition to many crypto lawsuits. However, the timing coincides with Trump’s pro-crypto stance and his family’s business ventures in the sector, including the World Liberty Financial project. Notable cases dropped or softened include those against Binance, Ripple Labs, and Gemini Trust. The latter is operated by the Winklevoss twins, who have financial and business ties to the Trump family. While no direct evidence of presidential pressure was found, the pattern suggests a stark departure from the aggressive enforcement seen under the Biden administration. The policy shift has raised concerns among former SEC officials about investor protection and market integrity, while the crypto sector celebrates reduced regulatory pressure.

marsbit12/16 09:22

The New York Times: After Trump's Return to the White House, Major Retreat in SEC's Crypto Lawsuits

marsbit12/16 09:22

Poland's Crypto Regulatory Bill 'Stalled', Pro-Crypto President and Strong-Regulation Prime Minister Engaged in Fierce 'Internal Struggle'

Poland is embroiled in a political standoff over its cryptocurrency regulatory bill, pitting pro-crypto President Karol Duda against Prime Minister Donald Tusk's pro-regulation government. The bill, intended to align with the EU's MiCA framework, mandates strict oversight by Poland's Financial Supervision Authority (KNF), requiring crypto service providers to register, comply with anti-money laundering rules, and adhere to consumer protection measures. It also introduces criminal liability for unlicensed activities. President Duda vetoed the bill, arguing it threatens economic freedom, stifles innovation with high compliance costs, and grants excessive powers to regulators. The ruling coalition, led by Tusk, resubmitted the identical bill unchanged, framing it as a national security necessity to counter Russian influence and illicit financial activities. The deadlock highlights deeper ideological divides: Duda's camp prioritizes market freedom and competitiveness, while Tusk's government emphasizes regulatory rigor and EU integration. The impasse leaves Poland as one of the few EU members yet to fully implement MiCA, with ongoing political negotiations determining the bill's fate.

marsbit12/16 08:03

Poland's Crypto Regulatory Bill 'Stalled', Pro-Crypto President and Strong-Regulation Prime Minister Engaged in Fierce 'Internal Struggle'

marsbit12/16 08:03

UK To Bring Crypto Under Financial Services Laws By 2027

The UK Treasury plans to extend existing financial services laws to regulate cryptoasset firms, including exchanges and wallet providers, by October 2027. The Financial Conduct Authority (FCA) will supervise the sector, requiring companies to meet standards on reporting, governance, and consumer protection similar to traditional finance. The move is intended to provide regulatory clarity, combat fraud, and enhance market integrity. A draft bill has been prepared, with FCA and Bank of England rules expected by late 2026. The UK’s approach aligns more closely with the US than the EU’s MiCA framework, though industry responses remain mixed regarding implementation details.

bitcoinist12/16 07:17

UK To Bring Crypto Under Financial Services Laws By 2027