The key to implementing the Guidelines lies in deeply embedding its requirements into specific business scenarios and operational processes to achieve a "seamless integration" of risk management and daily operations.

The Trump Meme token team announced the launch of a mobile game targeting Trump fans, with a teaser page now live and a waiting list open. The project team stated that the game will feature Trump token-related rewards, with participants potentially earning approximately $1 million in prizes.

SEC Chair Paul Atkins clarifies ICO regulatory stance, denying non-securities classification. source: https://coincu.com/news/sec-chair-ico-no-non-securities/

CryptoUK, a UK-based crypto industry lobbying group, announced its membership in the US policy advocacy body Digital Chamber. The two organizations will work together to promote collaboration in digital asset regulation through a unified cross-border advocacy platform. CryptoUK Executive Director Su Carpenter stated that the organization's core focus is on policy guidance, member collaboration, and regulatory participation, and this partnership will further strengthen the industry's voice in regulatory development. Currently, the US is advancing legislative negotiations on the structure of the digital asset market, while the UK has also announced strengthened cooperation with the US on crypto law and regulatory frameworks. Furthermore, the Bank of England recently released a consultation paper on "sterling-denominated systemic stablecoins," seen as a response to the progress of stablecoin legislation in the US. (Cointelegraph)

According to ChainCatcher, Arkham data reveals that at 08:12 UTC+8, a total of 158,531,227.878231 ENA tokens were transferred from Ethena to an anonymous address starting with 0xB805.

At the Blockchain Association's annual policy summit, SEC Chairman Paul Atkins stated that many types of ICOs should be considered "non-securities transactions" and therefore not subject to SEC regulation. He emphasized that network tokens, digital collectibles, and digital instrument tokens do not constitute securities, and ICOs related to these categories should also not fall under SEC jurisdiction. In his token classification framework proposed last month, Atkins divided crypto tokens into four categories, with only "security tokens" falling under SEC regulation, while the other three categories should be handled by the more lenient CFTC. He stated, "Three categories fall under the CFTC's domain, and we will focus on security tokens." This statement may indicate a potential return of ICO fundraising in the US, even without new market structure legislation. After the ICO boom in 2017, the SEC conducted large-scale enforcement actions on the grounds of "unregistered securities offerings," leading to a significant contraction of this model. With Coinbase launching an ICO platform for US retail investors through its acquisition of Echo last month, the industry seems to have accelerated its development (Decrypt) before regulatory clarification.

According to BlockBeats, SEC Chairman Paul Atkins stated at the Blockchain Association's annual policy summit that various types of Initial Coin Offerings (ICOs) should be considered non-securities transactions and thus fall outside the SEC's regulatory scope. Atkins referenced his recently introduced token classification framework, which divides the cryptocurrency industry into four main token categories. He emphasized that network tokens, digital collectibles, and digital utilities should not be classified as securities, and their related ICOs should also be viewed as non-securities transactions. Atkins highlighted that the only ICO category the SEC should regulate is tokenized securities, which involve the tokenization of securities already under SEC regulation.

According to ChainCatcher, on-chain analyst Yu Jin has observed significant movements in Ethereum (ETH) trading. Following a recent increase in ETH prices, trader Huang Licheng, also known as Machi, has seen a floating profit of $1.35 million. Earlier, Machi experienced a liquidation after profits were wiped out. Machi's trading strategy involved opening long positions on ETH, starting on the 2nd at $2,840. By the 4th, he had achieved a profit of $2.84 million. However, a minor market correction on the 6th resulted in the loss of these gains and subsequent liquidation. The latest rebound in ETH prices has once again placed his position in a profitable state, with a floating profit of $1.35 million.

In its latest research report, HSBC points out that US regulators are engaged in heated debate over how to incorporate tokenized US stocks into the regulatory framework, with traditional financial institutions and crypto companies showing significant differences in their regulatory attitudes. Tokenization converts real-world assets such as stocks, bonds, and real estate into digital tokens that can circulate on-chain, and how to define and regulate these trading infrastructures has become the core of the controversy. The report states that at the SEC Investor Advisory Committee meeting, there was a clear divide on whether on-chain stock trading should be regulated in the same way as traditional exchanges. Wall Street institutions, including Citadel Securities, called for stricter regulation of DeFi and submitted a 13-page document to the SEC, arguing that most decentralized trading protocols essentially meet the definition of "exchanges" and should be subject to the same regulatory requirements; the crypto industry, represented by Coinbase's global head of regulatory policy, advocates for differentiated rules for decentralized trading models. SEC Chairman Paul Atkins emphasized the need to find a balance between compliance and innovation, while Commissioner Caroline Crenshaw warned of the potential investor risks associated with tokenized stocks. HSBC believes regulators are unlikely to ultimately allow on-chain US stocks targeting the US market to have significantly lower regulatory requirements than traditional exchanges. The report points out that the SEC may adopt a "regulatory sandbox" approach, allowing tokenized stock platforms to pilot under strict conditions to test risk boundaries. In the long term, policy pressure may drive tokenized stock trading towards permissioned, fully regulated on-chain environments. HSBC states that despite differing positions, TradFi, DeFi, and regulators agree on one point: the tokenization market is rapidly expanding, and the struggle surrounding regulatory power and models demonstrates its continued rise in importance (CoinDesk).

Bitcoin mining infrastructure company Luxor announced the expansion of its hardware business from ASICs to GPUs and AI servers, further extending its procurement, logistics, and financing capabilities to the high-growth artificial intelligence and high-performance computing (HPC) market. Luxor stated that the core bottleneck currently facing the industry is the actual shortage of deployable computing power, while mining companies possess unique advantages in transforming into AI data centers, including infrastructure such as power contracts, site availability, and advanced cooling systems. Since its inception, Luxor has procured over $750 million worth of ASICs for Bitcoin miners. This time, it is extending this experience to GPU and server procurement, providing end-to-end solutions including new, refurbished, and used equipment. Its channels cover major manufacturers such as Dell, HPE, Lenovo, and PNY, and it has supporting capabilities in US warehousing, international logistics, equipment installation, and hosting. Luxor pointed out that the current global Bitcoin mining network deployed data center capacity is close to 20GW, with an additional 10GW of potential expansion space, of which 35%-40% is located in the United States. As mining companies gradually shift some of their capacity to AI and HPC hosting, Luxor will also adjust its service structure accordingly. As the only mining pool with comprehensive financing and hedging capabilities, Luxor can assist miners in obtaining GPU procurement funds through computing power and can provide structured financing such as sale-leaseback through partners. Meanwhile, its Tenki cloud marketplace can help operators immediately monetize computing power resources after hardware goes live. Luxor stated that it has built a full-process infrastructure network covering tax-advantaged warehousing in Montana and Delaware, OEM installation, warranty management, export control compliance, and old equipment disposal, aiming to meet customers' multi-billion dollar capital investment needs in the AI ​​and HPC era (The Block).

Octra Labs, the association behind the privacy blockchain project Octra, announced that it will launch a public token sale on Sonar (an ICO platform founded by Echo and recently acquired by Coinbase) on December 18th. The sale aims to raise $20 million, corresponding to a fully diluted token value (FDV) of $200 million, locking 10% of the token supply. The tokens will be sold at a fixed price, with all participants receiving tokens proportionally to their investment amount; any unsold tokens will be burned. Octra Labs stated that if demand is strong, the allocation ratio may be increased. All tokens will be unlocked and distributed shortly after the sale ends, following a model similar to Ethereum's 2014 ICO. Previously, Octra raised $4 million through Echo and completed a $4 million pre-seed funding round with participation from Big Brain Holdings, Finality Capital, Karatage, and Presto Labs. Regarding token allocation, early investors hold 18%, Octra Labs holds 15%, and the remaining 67% is allocated to the community, including early users, validators, ecosystem contributors, Echo participants, and those from this public sale. No single investor holds more than 3% of the tokens. This ICO launch coincides with a resurgence of industry focus on privacy technologies, including the rise of Zcash, the progress of Ethereum's privacy roadmap, Aztec's $60 million community sale fundraising, and Zama's over $1 billion valuation funding round. Octra, founded in 2021, claims to have developed its own fully homomorphic encryption (FHE) system from scratch, enabling computation in an encrypted state, suitable for scenarios such as private DeFi, dark pools, and AI training and inference. Its network can function as a standalone L1 layer or as a privacy coprocessor for ecosystems like Ethereum and Solana. To date, the Octra network has processed over 100 million transactions, covering 1.5 million accounts, with a peak TPS of 17,000, and has not experienced any downtime. The testnet will be migrated to the mainnet soon, and programmable privacy development tools and integration capabilities with Ethereum and Solana will be launched in Q1 2026. Octra Labs is located in Zug, Switzerland, with teams in Dubai and London. The core team consists of 17 people, many of whom are developers from VK (Vkontakte) and Telegram. Funds raised through the ICO will go into the association's treasury and be used for ecosystem development after the mainnet launch.

Jinse Finance launches its daily cryptocurrency and blockchain news bulletin, "Jinse at 8 AM," issue 2904, providing you with the latest and fastest news on the digital currency and blockchain industry.

Cryptocurrency, Regulation, Mining, Satoshi Nakamoto, BTC, A Narrative of Two Worlds: An Analysis of the Global Crypto Regulatory Landscape (Jinse Finance), Exploring the Roots of the Institutional Rebirth of Cryptocurrency.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.

He gave away NFTs worth nearly ten million dollars at Art Basel.

The future of finance belongs to on-chain, and tokenized deposits and stablecoins are the necessary infrastructure to achieve this goal.

While the United States is still debating "who is in charge of what," and Europe's MiCA is still in its adjustment period, Abu Dhabi has quietly completed the puzzle of its infrastructure.

Something extremely terrible is happening to the US economy, and almost no one is talking about it publicly.

About 40% of Canadian crypto users are failing to report taxes or are at high risk of non-compliance, making enforcement difficult. The CRA has recovered millions through audits but faces challenges due to anonymous transactions, while new laws and reporting rules are planned for 2026 to improve oversight.

From DeFi to RWA, and now to the SEC's conclusion of its investigation, Ondo has seized every market opportunity, which may be the secret to its continued popularity.