Wu learned that at the DC Blockchain Summit, SEC Chairman Paul S. Atkins stated that the SEC is advancing a framework for classifying crypto assets and interpreting investment contracts, dividing digital assets into non-securities categories (such as digital commodities, digital collectibles, digital utilities, and stablecoins compliant with the GENIUS Act) and digital securities, and clarifying that the securities attributes can be terminated once relevant commitments are fulfilled. He also proposed a "crypto asset regulatory framework" that aims to provide financing pathways through safe harbor mechanisms, including startup exemptions lasting up to approximately 4 years with a financing cap of about 5 million USD, as well as financing exemptions of up to approximately 75 million USD within 12 months. After meeting certain conditions, the investment contract safe harbor will apply, and the related rules are expected to enter the public comment period.