# 监管政策与市场影响

#监管政策与市场影响 dYdX launches spot trading on Solana, and US users can finally participate. This is a pretty interesting signal!
Honestly, my feelings about this news are quite complex. On one hand, this shows that decentralized exchanges are actively adapting to the regulatory environment and have found an innovative breakthrough within the existing framework—spot trading is less risky compared to perpetual contracts and has less regulatory impact. This is not retreat but a wise compromise, allowing more people to truly experience the convenience of decentralized trading.
On the other hand, the l

#监管政策与市场影响 Seeing the CFTC revoke the 2020 digital asset delivery guidelines, I am reminded of a common confusion I’ve had during recent conversations with several investors—regulatory frameworks are adjusting, market rules are evolving, but what does this really mean?
To be honest, such policy changes shouldn’t be overinterpreted as either positive or negative. The US is reevaluating delivery standards and strengthening authority frameworks, which essentially is about clarifying market order. For prudent investors, this serves as a reminder:
**First, don’t be confused by the emergence of new

#监管政策与市场影响 Recently came across news that the CFTC is撤销 (revoke) the 2020 digital asset "actual delivery" guidelines. Honestly, I was a bit confused🤔 What is actual delivery? Why revoke it? How does this affect us newcomers entering the market?
It seems that regulatory policies are constantly being adjusted. Do you think this is a good thing? After all, the previous rules might have been a bit outdated, and the new standards should make the market clearer, right? But I also worry that policy changes might affect the user experience of exchanges or wallets😅
Can any experts explain the actual

#监管政策与市场影响 dYdX opening US spot trading seems like platform expansion on the surface, but the underlying logic is worth pondering. Why only dare to launch spot trading first, while perpetual contracts still have to consider the SEC and CFTC's stance? Isn't this just a compromise under regulatory pressure?
I've seen too many platforms fail due to compliance issues. From the wild growth of a few years ago to the current cautious approach, this process has been a painful lesson. Spot trading has relatively manageable risks, and regulation is also relatively lenient. This is a smart way to operat

#监管政策与市场影响 The US CFTC revokes the 2020 "actual delivery" guidance for digital assets. This policy adjustment is quite interesting. The old rules were indeed complex and outdated, and a new regulatory framework is being rebuilt. What does this mean for us crypto enthusiasts?
In the short term, the regulatory gap may give some new projects more operational flexibility, and interaction opportunities might actually increase. But don’t get too excited too early—long-term, the strengthened authority of the CFTC means future project reviews will be more stringent. So now is the window period; new p

#监管政策与市场影响 dYdX now allows US users to trade SOL spot. What does this mean? 🚀 Once the regulatory cracks loosen, a bunch of opportunities will follow. The SEC and CFTC are still studying perpetual contracts, but the spot market is opening up first, indicating a change in their attitude. That's why we must keep an eye on regulatory developments—once policies shift, those previously blocked trading pairs and products will take off. If the US market truly opens up fully, the Solana ecosystem will go crazy. Those entering now are waiting to profit, while latecomers will be the bagholders. Regula

#监管政策与市场影响 dYdX's move is interesting. Spot trading has a small entry point, but the strategy is very clear—first use spot to open the door to the US market. Once regulatory looseness occurs, derivatives will follow the trend.
From a copy-trading perspective, this is actually a signal. US users entering the platform means liquidity levels will rise, and high-quality traders will start positioning in top projects earlier. I am closely watching whether leading traders are beginning to build positions in SOL spot. Once a clear signal appears, the cost-effectiveness of split-position copy-trading

#监管政策与市场影响 The CFTC is adjusting regulations again, this time撤销 the 2020 set of "actual delivery" guidelines. In simple terms, they think the previous rules were too complicated and outdated, unable to keep up with the pace of the crypto industry.
This actually signals to us that regulators are re-evaluating how to manage digital assets. On one hand, it shows they acknowledge the existence of this market; on the other hand, they are trying to streamline authority and establish a clearer regulatory framework.
In the short term, there may be volatility because regulatory adjustments always crea

#监管政策与市场影响 The 2020 version of the CFTC's "Actual Delivery" guidelines, I thought at the time, was problematic. The rules were too complicated, and each state had its own understanding of enforcement. The boundary between futures and spot markets was drawn very firmly, which actually limited institutional participation. Now that this old framework has been revoked, it indicates that regulators have finally acknowledged a reality: the rules from four years ago are indeed outdated.
Back in 2020, the market was still debating whether Bitcoin futures qualified as true hedging tools, and instituti

#监管政策与市场影响 dYdX launches spot trading on Solana, a move worth paying attention to. From a regulatory perspective, the platform intends to avoid the restrictions on perpetual contracts for US users by starting with spot trading, indicating that they have thoroughly assessed the attitudes of the SEC and CFTC — a pragmatic choice.
Key information: Spot trading risks are relatively controllable, and US regulators have a higher tolerance for it. While waiting for policy signals on perpetual contracts, dYdX maintains US user activity and trading volume through spot products. From a capital flow per