Source: Mao Quan Lion on Dune Road
Author: Charlie Little Sun
Two speeches, five days apart, seem to have strategically positioned the chessboard of American crypto finance.
On July 31, SEC Chairman Paul S. Atkins announced "Project Crypto", incorporating "bringing the entire US capital market on-chain" into the regulatory agenda.
On August 4, Commissioner Hester M. Peirce directly addressed financial privacy and regulatory concepts reconstruction at UC Berkeley's "Peanut Butter & Watermelon" event.
Viewing these together, you'll discover: The United States is not only improving capital market attractiveness through "clearer rules", but also reshaping talent attractiveness through a "more fundamental rights perspective".
[The rest of the translation follows the same professional and accurate approach, maintaining the original meaning while translating into clear English. Would you like me to continue translating the entire text?]Based on fifteen years of experience in the U.S. and global financial and fintech sectors, here are some strategic suggestions for Chinese capital and Web 3/RWA enterprises:
First, strategic positioning must be layered.
In the short term, adopt a "rural encirclement of the city" approach, using Hong Kong/Singapore/UAE/Europe as testing grounds for growth and compliance; but in the medium to long term, the U.S. high ground must be placed at the core, and layout should begin now.
The U.S. is simultaneously the source of profit pools, valuation hub, and discourse power; not entering means long-term discounting.
The entry barrier is not just about costs, but also about respecting first principles: products must be naturally "privacy-friendly", and compliance must be "auditable and accountable".
Second, two legs of product and license.
After the GENIUS Act laid the federal framework for payment-type stablecoins, on-chain cash and short-term bond funds denominated in U.S. dollars will become the standard for B2B, cross-border settlement, and on-chain finance.
For companies focusing on stablecoins, RWA, and broker infrastructure, prioritize making reserve composition, redemption mechanisms, independent audits, and bankruptcy isolation "U.S.-ready", and practice operational metrics and risk control rhythms with real funds and real customers in jurisdictions like Singapore/UAE/Europe, accumulating internal control documents and audit trails as "compliance assets" in advance.
Third, U.S.-style channel and ecosystem docking.
Atkins' "super-app" direction suggests the U.S. might allow a more "unified licensed stack", which presents new interface requirements for collaboration between trading and market-making, brokers and advisors, synthetic assets and custody.
A pragmatic approach is to establish ecosystem cooperation with the U.S. financial system early in compliance whitelists, clearing connections, and on-chain settlement pilots, making oneself a "pluggable" node-type enterprise, rather than a full-process heavy-asset player.
Fourth, narrative and team localization.
Peirce's speech signals a trend: U.S. regulation is moving towards "scientific quantification and proportionality" in the triangle of "privacy-compliance-efficiency".
Your risk control team, data engineering, and legal department need to be able to self-prove value under the logic of "reducing ineffective submissions and retaining effective audits"; your core engineers must also be willing to iterate in a culture of "writing rights into products" - which is precisely the key to attracting top talent in the U.S.
More importantly, your business and operations team must deeply understand local narratives and business culture, translate regulatory language into business language, translate technical advantages into customer value, and be able to establish long-term trust in multiple contexts of industry associations, state and federal regulation, institutional compliance, and procurement.
Conclusion
The U.S. attraction will come simultaneously from "better market structure" and "higher rights standards"
Reading Atkins' "Project Crypto" and Peirce's "peanut butter and watermelon" together reveals a U.S. facing both capital and talent:
The former uses institutional certainty and market engineering to reabsorb liquidity and issuance; the latter uses first-principle protection of privacy and freedom, making developers, users, and brands willing to set their "default market" here.
For Chinese enterprises and capital, even if the U.S. is not an immediate "sole battlefield", it is definitely a "high ground" that must be conquered in the medium to long term.
First, polish compliance and technical stacks in peripheral markets that can seamlessly migrate to the U.S., then choose the right moment to land and thoroughly combine Web 3 and Web 2 finance in the U.S., where "narrative and system are in sync" - this is the correct way to cross cycles and share the digital asset dollar dividend.
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