火星财经消息，据 CryptoSlate 报道，美国证券交易委员会（SEC）加密工作组上周与纳斯达克、Plume Network 及 Etherealize 开会，聚焦公链证券代币化监管框架。三方均提议设立“监管沙盒”试点：纳斯达克建议创建“ATS-Digital”新交易场所，支持数字资产合约与商品类代币共上市；Plume Network（基于 Arbitrum）主张为证券法适配去中心化金融条款；Etherealize 呼吁修订转让代理规则，承认区块链作为股东登记系统的合法性。行业代表要求明确资产分类、采用模块化规则并分阶段测试，但未质疑 SEC 投资者保护原则。工作组将评估沙盒模型、专用交易场所及规则更新方案。此前，SEC 委员 Mark Uyeda 已表态支持监管沙箱机制。

<div>火星财经消息，据 CryptoSlate 报道，美国证券交易委员会（SEC）加密工作组上周与纳斯达克、Plume Network 及 Etherealize 开会，聚焦公链证券代币化监管框架。三方均提议设立“监管沙盒”试点：纳斯达克建议创建“ATS-Digital”新交易场所，支持数字资产合约与商品类代币共上市；Plume Network（基于 Arbitrum）主张为证券法适配去中心化金融条款；Etherealize 呼吁修订转让代理规则，承认区块链作为股东登记系统的合法性。行业代表要求明确资产分类、采用模块化规则并分阶段测试，但未质疑 SEC 投资者保护原则。工作组将评估沙盒模型、专用交易场所及规则更新方案。此前，SEC 委员 Mark Uyeda 已表态支持监管沙箱机制。</div>

美 SEC 加密工作组与纳斯达克、DeFi 初创公司讨论证券代币化

According to CryptoSlate, the U.S. Securities and Exchange Commission (SEC) crypto working group met last week with Nasdaq, Plume Network, and Etherealize, focusing on the regulatory framework for public chain token securitization. All three parties proposed establishing a "regulatory sandbox" pilot: Nasdaq suggested creating a new "ATS-Digital" trading venue to support the co-listing of digital asset contracts and commodity tokens; Plume Network (based on Arbitrum) advocated for adapting decentralized finance provisions to securities laws; Etherealize called for revising transfer agent rules to recognize blockchain as a legitimate shareholder registration system. Industry representatives demanded clear asset classification, modular rules, and phased testing, without challenging the SEC's investor protection principles. The working group will evaluate sandbox models, dedicated trading venues, and rule update proposals. Previously, SEC Commissioner Mark Uyeda had already expressed support for the regulatory sandbox mechanism.

<div>Mars Finance News, according to CryptoSlate, the SEC's crypto working group met last week with Nasdaq, Plume Network, and Etherealize, focusing on the regulatory framework for public chain token securitization. All three parties proposed establishing a "regulatory sandbox" pilot: Nasdaq suggested creating a new "ATS-Digital" trading venue to support the co-listing of digital asset contracts and commodity tokens; Plume Network (based on Arbitrum) advocated adapting decentralized finance provisions for securities law; Etherealize called for revising transfer agent rules to recognize blockchain as a legitimate shareholder registration system. Industry representatives requested clear asset classification, modular rules, and phased testing, without challenging the SEC's investor protection principles. The working group will evaluate sandbox models, dedicated trading venues, and rule update proposals. Previously, SEC Commissioner Mark Uyeda had already expressed support for the regulatory sandbox mechanism.</div>

U.S. SEC Crypto Working Group Discusses Security Tokenization with Nasdaq, DeFi Startups

Next Week's Key Preview

December 22nd

Aster: Phase 5 airdrop will begin on December 22nd and last for 6 weeks;

Espresso will open airdrop registration on December 22nd;

December 23rd

The U.S. Bureau of Economic Analysis will release third-quarter GDP data on December 23rd;

December 24th
U.S. and European stock markets will be closed for Christmas, and whether a "Christmas rally" will materialize remains uncertain;

The U.S. will release initial jobless claims for the week ending December 20th;...

Must-watch items next week: US Bureau of Economic Analysis to release Q3 GDP data; Aster launches fifth phase of airdrop (December 22-28).

Source: Galaxy Research
Translation: Jinse Finance
Bitcoin's closing price in 2025 is expected to be roughly the same as the level at the beginning of the year.
The cryptocurrency market experienced a genuine bullish wave in the first ten months of this year. Regulatory reforms continued to advance, ETFs continued to attract funds, and on-chain activity became increasingly active. Bitcoin hit an all-time high of $126,080 on October 6th.
However, the market failed to deliver the expected breakout after the initial frenzy; instead, it experienced rotation, repricing, and rebalancing. This was driven by factors such as unmet macroeconomic expectations, a shift in investment narratives, leveraged liquidations, and the actions of whale...

Galaxy: 26 Predictions for the Crypto Market in 2026

Following the controversy surrounding Fundstrat's Bitcoin views, co-founder Tom Lee responded, stating that the "contradictory predictions" seen by outsiders were actually research conclusions from different positions and timelines, not internal disagreements. Previously, Sean Farrell, head of digital asset strategy at Fundstrat, suggested that Bitcoin might retrace to the $60,000-$65,000 range in the first half of 2026; while Tom Lee believed Bitcoin could reach new highs, even surging to $200,000 as early as the beginning of 2026. A Fundstrat...