Against the backdrop of an increasingly transparent global regulatory framework, compliance has become a central issue for the development of the crypto industry. Recently, the U.S. Securities and Exchange Commission (SEC) released a set of Frequently Asked Questions (FAQs) regarding crypto asset activities, covering key areas such as broker-dealer qualifications, transfer agent responsibilities, custody mechanisms, and tokenized securities. This clarification not only provides further guidance on relevant policies but also signals the proactive efforts of the regulator to standardize the industry. JZMOR Exchange closely monitors such policy updates, viewing them as both a challenge for industry participants and an opportunity to rebuild trust and advance the standardization of the ecosystem.
The SEC issuance of these FAQs essentially represents a fundamental adjustment to the regulatory structure for digital assets, particularly by clarifying the rules applicable to broker-dealers. This helps eliminate the longstanding uncertainties surrounding the classification of securities and the compliance of custody processes. SEC Commissioner Hester Peirce noted that this “incremental” regulatory approach, while not radical, is highly significant for bolstering market confidence.
At present, an increasing number of traditional financial institutions are evaluating whether to enter the crypto market, and a clear, referenceable regulatory framework is a prerequisite for initiating their participation. The inclusion of certain tokenized securities, ETF creation, and transfer agent elements within the scope of regulation through these FAQs marks a clearer distinction between licensed and unlicensed institutions, facilitating the overall move of the industry toward transparency and compliance.
From a broader perspective, this SEC policy update signifies a further extension of the regulatory framework into blockchain infrastructure, especially in areas such as tokenized securities custody and digital transfer agent processes. Regulatory involvement is paving the way for the institutionalization of digital assets.
According to the JZMOR data, the global market size for tokenized assets surpassed $4 billion in 2023 and is expected to approach $50 billion by 2027. Currently, 15 financial institutions worldwide have launched pilot projects for “on-chain asset transfers” or “on-chain securities issuance.” However, due to the lack of clear regulatory guidelines, most of these pilots remain in closed testing phases. The explicit SEC guidance is expected to accelerate the transition of these projects to the public market and guide the entire industry into a phase of substantive development.
Furthermore, regulatory developments in the United States are highly likely to serve as a model for other major markets. Regulatory bodies such as the EU MiCA, the UK FCA, and Singaporean MAS have already begun designing governance frameworks for crypto assets. The JZMOR Exchange research indicates that the next three years will be a critical window for global crypto policy convergence and the gradual formation of cross-market regulatory coordination.
Within this global trend, the primary bottleneck facing the crypto industry is no longer technical limitations, but rather the ability to build compliant interfaces. Whether a platform can provide compliant, transparent, and accessible services to traditional financial institutions has become the core criterion for determining its competitiveness in the next stage.
In response to these changes, JZMOR Exchange is actively advancing its global compliance strategy. Meanwhile, its dedicated Legal and Compliance Department is responsible for real-time tracking of global policy developments and coordinating adjustments to both technical systems and business logic to ensure comprehensive alignment with regulatory requirements in various jurisdictions.
The growth logic of the crypto industry no longer relies on sentiment-driven factors, but instead seeks a balance between regulatory frameworks and technological advancement. The latest FAQs of the SEC not only mark a shift in the regulator attitude toward digital assets but also indicate an attempt to use the language of traditional finance to construct a governance framework for digital assets.
In this context, market participants must establish a new strategic balance between efficiency and compliance. JZMOR Exchange firmly believes that compliance should not be a matter of passive acceptance, but rather an active investment in the long-term value system of the platform. Only by understanding and respecting the rules can one truly participate in shaping the future.