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Web3 technology, as one of the latest frontiers in the digital age, is reshaping multiple fields such as finance, social networking, and commerce at an unprecedented speed.However, the contest between innovation and compliance has never stopped, and the “cold winter” of supervision seems to be gradually coming.The policy attitudes of the “Section 6050I” and “Tornado Cash sanctions” are still pending.This article will explore the complex status and possible future evolution of global Web3 regulation from Aiying’s perspective, and look at the complex relationship between technology, policy and freedom.
1. The regulatory maze in the United States: the escort of freedom, or the resistance to innovation?
The United States has always claimed to be a global leader in technology, but in terms of policies in cryptocurrency and Web3, it allows people to see another phenomenon of “split regulation”.
1. The light of centralization: from regulatory uncertainty to policy dawn
The new US government may show positive signs in the regulatory direction of securities and banking, especially in stablecoin issuance and centralized trading markets, which may usher in a clear and unified policy framework.This stable expectation undoubtedly injects a booster into centralized enterprises, reducing the risk of stagnation due to policy uncertainty.For example, in the debate between stablecoins and securitization, more and more consensus is being reached, the market’s panic about regulation is gradually eased, and the dawn of compliance is beginning to emerge.
However, it is worth noting that the dawn of policies does not mean unconditional relaxation.In recent years, the SEC has become increasingly strict in law enforcement of centralized exchanges such as Coinbase and Kraken, expanding the definition of unregistered securities and trying to regulate it in the light of centralization.It can be said that although centralized markets may usher in policy dividends, regulators obviously will not allow them to get out of control, and the gray area still exists.
2. The Shadow of Privacy and Decentralization: The Survival and Deadline Crisis of Mixed Services and Developers
Compared with the relatively relaxed centralization, decentralized innovators are facing greater pressure.
6050IAt the heart of this is that all people who receive equivalent or more than $10,000 cryptocurrency must report to the IRS, including detailed identity information of the counterparty.However, in decentralized applications, the two parties to the transaction may be unknown to each other, which makesThis mandatory provision is technically impossible to enforce.At the same time, this requirement of unconditional reporting has also triggered a serious privacy crisis.
What is more symbolic isTornado Cash sanctions incident.This chain of privacy mixed services has been directly included in the sanctions list by the US Treasury Department, and developers are facing legal risks.This sanction is not only targeting a tool, but also a public challenge to on-chain privacy.
2. EU and Asia: Are innovation hotbeds or strict constraints?
The EU and Asia also show dynamic phased characteristics in their attitude towards Web3 regulation.
1. The two sides of the EU: the tight hoop curse in the regulatory sandbox
The EUMiCA (Crypto Asset Market) FrameworkBecome the “foreman” of Web3 regulation.This framework provides a complete set of rules for cryptocurrency issuance and market transactions, aiming to provide clear compliance guidance for the crypto industry in Europe.However, this “systematic” compliance management does not mean relaxed and worry-free.The EU is also promoting strictAnti-money laundering regulations, all participants are required to record the user identities in more detail.
The seemingly open regulatory sandbox is actually not a pure breeding ground for innovation.For decentralized applications, the MiCA framework retains some vague areas of “exemptions”, but the specific implementation still faces many obstacles..On the one hand, they hope to promote compliance innovation, but on the other hand, they continue to raise the threshold for compliance. This two-sided strategy makes the decentralized future equally full of uncertainty.
2. Asia: From unregulated freedom to strict institutional constraints
Asia was considered a “safe haven” for crypto assets in the early days, but as the market expanded, supervision gradually became stricter.bySingaporeAs an example, while the MAS is liberalizing the crypto market, it has also continuously introduced new regulations, and more restrictions on high-leverage trading and retail users are being restricted.And inJapan, the world’s first stablecoin regulatory law promulgated by it clearly requires stablecoins to be issued by banks or trust institutions, which undoubtedly sets higher access barriers for Web3 companies.
andHongkongAlthough the virtual asset service provider (VASP) license has been reopened recently to try to attract capital backflow, it also comes with strict regulatory provisions.The tightening of policies in these regions marks a gradual transformation from “embracing innovation” to “compliance priority”.
3. The game between privacy, freedom and national security: the bottom line of compliance and the red line of innovation
Compliance issues in the Web3 field have gradually evolved into a game between privacy, freedom and national security.
1. The disappearance of privacy?
Tornado Cash sanctionsLet us see an option: privacy, or national security.To a certain extent, the existence of privacy hybrid services is no different from traditional cash transactions, and they are all designed to protect users’ financial privacy.However, the disclosed on-chain records make these services a target specifically targeted by law enforcement.
2. The logic of national security
At the same time, policy makers have a more stance towards national security.In on-chain transactions, cases of terrorist organizations, criminals, etc. using technology to evade sanctions occur frequently, which has become a legitimate reason for regulators to intervene.Against this background, calls for privacy protection are often quickly suppressed under the banner of “national security”.
3. The fate of decentralization
If decentralized tools and technologies are forced to expel due to policy uncertainty, innovation across Web3 may lose a large part of its momentum.Especially in the context of tightening regulation in other major jurisdictions around the world, the direction of U.S. policy will undoubtedly become a key factor affecting the innovation landscape of Web3.
4. Ai Ying’s Perspective: Break the Constraints and Protect the Fire of Innovation
From Ai Ying’s perspective, the compliance path of Web3 should not be concessions and compromises, but how to seek true innovation and freedom within the framework of the system.Compliance should serve innovation, not shackle innovation.The technological development of Web3 cannot stagnate by legal restrictions, nor can it make absolute sacrifices between privacy and free expression.
Aiying will continue to track Web3 regulatory trends in countries around the world and is committed to helping companies find a way to deal with it in a complex compliance environment.We believe that true compliance is symbiotic with technology, not against it.In a complex world intertwined by technology, law and market, protecting privacy, freedom of speech, and freedom of decentralized development is not only the battle of technological innovators, but also the common pursuit of all those who love freedom and innovators.
