The dilemma faced by SOL and the opportunities brought by the FIT21 Act.

In June 2023, the SEC classified SOL as a security in the Binance case and the Coinbase case, which means that SOL will be subject to stricter supervision in the United States.

After being judged as a security, it is difficult for SOL to pass the ETF, because securities need to meet the registration and disclosure requirements of the SEC and may face problems such as trading restrictions.

For example, the SEC is compared to a supermarket, cryptocurrencies are compared to fruits, and ETFs are compared to fruit baskets.

Non-securities fruits are easily put into the fruit basket, while fruits that are considered securities need to meet more supermarket rules and requirements and are difficult to enter the fruit basket.

A year ago, the SEC has already characterized SOL as a security, and SOL ETF is unlikely to be realized in the short term.

There are 18 other tokens that have been judged as securities, including BNB, BUSD, ADA, MATIC, ATOM, FLOW, ICP, etc., and they are also facing the same situation.

However, the good news is the passage of the FIT21 Act. In May 2024, the bill was passed by the U.S. House of Representatives with a high vote. It clarifies the types of digital currencies and their regulators, paving the way for more ETFs. Decentralized tokens are defined as digital commodities and regulated by the CFTC; non-decentralized tokens are considered securities and regulated by the SEC. The bill also clearly defines the definition of decentralization. This improves the digital currency regulatory system and expands the industry's freedom. Especially for ETFs, it has brought positive effects. I am optimistic about the market in June, especially Ethereum and its related ecological coins. There are also some sectors such as AI, games, etc. that are at the bottom and worth paying attention to. #sol板块 #山寨币热点