Members of the U.S. Congress are pushing forward legislation with the core goal of carving out a no-go zone for the SEC (U.S. Securities and Exchange Commission) in the crypto market—simply put, to prevent the SEC from regulating crypto assets anymore.

If this bill ultimately passes, it will be a revolutionary turning point for the entire industry. Over the past few years, the SEC’s classification of crypto projects as "securities" has been a pain point for the market and the sword hanging over many projects. Once the SEC is kept out, projects that have been sued or under investigation will suddenly have a chance to breathe.

From a market perspective, if this news becomes reality, it will definitely trigger a frantic short-term emotional rebound. Years of suppressed buying power could be unleashed, leading to dramatic fluctuations in trading volume, activity, and prices. This is indeed a signal that could change the game.

But don’t celebrate too early. The reality is that from the submission of a bill to its final signing by the President, there are a series of political struggles involving debates and votes. Opposition voices will certainly be loud, and whether it will ultimately become law is still uncertain.

There’s also a more thorny issue: if the SEC really withdraws, who will fill the regulatory vacuum? Will the CFTC (Commodity Futures Trading Commission) take over, or will a new regulatory body be established specifically for crypto assets? Will the rules become clearer or will they become even more chaotic? These are new questions. So, the final form of this change is unpredictable at this point.