SEC Commissioner Suggests Cautious Advancement of "Innovation Exemption" for Tokenized Securities, Raises Key Issues Like Disclosure Systems; US Senate Majority Leader Says Clarity Act Unlikely to Advance Before April.

Marked by ICE's investment in OKX, the capacity consolidation in the crypto asset trading sector is nearing its end. Within the foreseeable macro cycle, as traditional regulatory frameworks like the Basel Accords substantially cover crypto asset exposures and persistently high compliance costs continue to squeeze platform profit margins, global crypto liquidity will irreversibly concentrate towards a few oligopolistic nodes possessing "traditional licenses + native infrastructure."

On-chain treasuries have surpassed $4B+, the RWA narrative is booming, but tokens have fallen over 90% from their highs. The problem isn't that retail investors can't get in, but that the token economic model was fundamentally flawed from the start—tokens became a subsidy tool rather than a value carrier. The truly successful RWA projects will be those that first solidify the asset side before discussing token value.

Pharos will deeply empower global developers based on its EVM-compatible, high-performance parallel underlying architecture to jointly explore the trillion-dollar financial market driven by RWA.

Looking ahead, RWA Perps is more than just a shadow market mirroring Nasdaq or CME; it represents a fundamental restructuring of pricing power, global liquidity distribution, and risk transfer mechanisms.

Gate will seek more regional compliance licenses for businesses such as payments and derivatives in the future.

CLARITY Act Controversy Heats Up: White House Crypto Official Refutes View That Stablecoin Rewards Trigger Bank Deposit Outflows; Coinbase: New US Crypto Tax Rules Are Complex, Stablecoin and Gas Fee Reporting Could Lead to "Over-Reporting".

From the perspective of traders seeking directional exposure, many traders don't actually desire "options" or "tokenized stocks," but rather a pure Delta One exposure.

Could enabling ordinary users to enter unicorns like SpaceX before the bell rings through tokenization be the new future proposition for RWA?

The top three weekly gainers among crypto concept stocks were SOFI, BKKT, and SMLR.

Stablecoin Yield Protocol Unlikely to Reach Agreement Before March, Disagreements Hinder Market Structure Bill Progress; US SEC to Host Private Market Valuation Roundtable Tomorrow, Focusing on Retail Investor Access.

Facilitating the deep integration of traditional financial assets with Web3 infrastructure.

The real exit is structural migration, not emotional venting; it's about being accepted, not being hyped. The next phase for RWA is not a breakout point, but an access point; not a traffic funnel, but an institutional gateway.

US SEC Clarifies Net Capital Calculation Standards for Payment Stablecoins: Proprietary Positions Subject to 2% Haircut; Caixin: RWA Based on Hong Kong Assets Not Under the Jurisdiction of Mainland Chinese Regulatory Authorities.

The RealFi Alliance operates based on four core pillars, aiming to ensure the long-term adoption and systemic robustness of the network.

The Ten Most Noteworthy Market Trends for 2026