The U.S. Securities and Exchange Commission (SEC) acknowledges that its prior enforcement actions against the crypto industry have had shortcomings, emphasizing that the focus should not be on the number of cases. Since February 2025, seven crypto cases have been withdrawn, with the goal of adjusting policy. The new chair, Atkins, is pushing for regulatory innovation, proposing a “safe harbor” mechanism designed to give compliant space to startup crypto projects and aiming to reshape the industry’s compliance path.

Gate News message: On April 8, the U.S. Federal Deposit Insurance Corporation (FDIC) officially released guidance for financial institutions and their financial-technology subsidiaries on the use of stablecoins. FDIC Chair Travis Hill said on Tuesday during a Board meeting in Washington that the new guidance will set out corresponding rules on areas including reserve assets, stablecoin redemptions, permitted activities, and capital requirements to address the growing adoption of digital currencies in the financial system.

Gate News: On April 7, Paul Atkins, Chair of the U.S. Securities and Exchange Commission (SEC), said at the Vanderbilt University Digital Assets Summit that the SEC’s proposed crypto “safe harbor” framework has been submitted to the Information and Regulatory Affairs Office (OIRA) for review under the Office of Management and Budget, and that only one final step remains before it is formally released. The proposal includes a “start-up exemption” provision, allowing crypto projects to raise a certain amount of funding within a four-year period, while requiring specific disclosures to protect investors. Atkins also revealed that the SEC is moving forward with an “innovation exemption” mechanism, which would create a regulatory sandbox for on-chain assets, but the initiative has sparked controversy between crypto advocates and traditional financial institutions. Atkins emphasized that related legislation still needs to be advanced to ensure the regulatory framework has staying power across administrations.

Gate News message: On April 6, U.S. Commodity Futures Trading Commission (CFTC) Chair Mike Selig posted on the X platform that U.S. federal law clearly states that the derivatives market is regulated by the CFTC. Whether it is prediction markets related to sports, politics, or oil prices, under the federal regulatory framework the CFTC has clear jurisdiction to regulate these markets, and it is obligated to uphold the relevant regulations.

Dallas Fed Chair Logan outlined several paths for the Federal Reserve to reduce its balance sheet, emphasized the effectiveness of the current liquidity management framework, and noted that regulatory adjustments can encourage banks to lower their reserve levels. She criticized that some liquidity rules have failed to improve safety and said that reserves could be used more efficiently.

Crypto Super Political Action Committee Fellowship PAC appoints Tether U.S. executive Jesse Spiro as chair, pushing for action supporting pro-crypto candidates. Meanwhile, the “Digital Asset Market CLARITY Act” is stalled in the Senate, with controversy over stablecoin yield policy affecting the bill’s progress. The crypto industry is stepping up lobbying efforts, seeking a more favorable policy environment.

Gate News update, April 1, Fellowship PAC announced the appointment of Tether US’s Vice President of Regulatory Affairs, Jesse Spiro, as the organization’s chair. Jesse Spiro will be responsible for driving Fellowship PAC’s next phase of expansion and increasing its support for candidates who back clear regulatory frameworks for innovation, digital assets, and emerging technologies. Fellowship PAC said it will publish the first list of endorsed candidates in the coming days.

Gate News update: On April 1, Fed Governor Musalem and Fed Vice Chair Barr will deliver remarks one after another in about ten minutes.

Federal Reserve Chair Jerome Powell spoke at Harvard University, emphasizing economic uncertainty and unclear policy direction, causing markets to hold off. Bitcoin has been trading sideways around $67,400, showing some resilience. Powell mentioned inflation and the state of the job market, suggesting that policy room is limited. Market expectations for future policy changes have been muted, and both traditional markets and crypto assets are waiting for key catalysts.