From Frenzy to Regulation: U.S. Regulators Cool Down “Crypto Fever” Among Listed Companies

End of the Era of “Free Crypto Hoarding”? What Lies Ahead for the Crypto Market?

The “crypto hoarding boom” that has swept the market for nearly three months seems to be hitting the brakes – U.S. regulators are tightening the reins on listed companies holding cryptocurrencies. From Nasdaq stepping up scrutiny to the SEC launching a cross-border task force and FATF calling for transparent disclosure of shell companies, a series of moves signal that the days of listed companies “hoarding crypto at will” may be gone. How will this regulatory crackdown impact the crypto market? Let’s break it down.

Nasdaq Closes the “Crypto Hoarding Window”? Top 2 ETH Reserve Giants: We’re Unaffected!

As a key “battleground” for crypto-linked U.S. stocks, Nasdaq has recently zeroed in on a specific group of companies – those trying to inflate their stock prices by raising funds to buy cryptocurrencies. Sources say Nasdaq now requires some firms to obtain shareholder approval before issuing new shares to purchase crypto, a move that could dampen the market’s speculative fervor.

However, the two giants of ETH reserves, Bitmine and SharpLink, have reassured the market, each for different reasons:
– Bitmine Immersion Technologies: “We’re not listed on Nasdaq!” The company is traded on NYSE American (a NYSE subsidiary) and uses a “shelf registration” for stock offerings. It states that its existing ATM financing program is legally registered and does not require shareholder approval, thus avoiding Nasdaq’s new requirements.
– SharpLink: “We fully comply with Nasdaq rules!” The company emphasized that if it uses its ATM financing plan to buy ETH, no additional shareholder approval is needed. “Our strategy remains unchanged: we only raise capital when it creates value for shareholders, and we strictly adhere to compliance and transparency to ensure all transactions meet Nasdaq regulations and industry practices.”

In short, the affected companies are likely future DAT (Digital Asset Treasury) listed firms, while established giants like Bitmine (not on Nasdaq) and SharpLink (with compliant ATM plans) remain unscathed for now.

SEC + FATF Team Up: Cracking Down on Cross-Border Money Laundering, No More “Hidden Owners”

Beyond stock exchanges, the SEC isn’t sitting idle. On September 5, it announced the launch of a cross-border task force aimed at identifying and combating cross-border fraud that harms U.S. investors. Meanwhile, the head of FATF (the global anti-money laundering watchdog) warned, “Criminals are increasingly using crypto to transfer funds across borders, so countries must disclose shell company owners more transparently.”

These moves, though not directly targeting “crypto hoarding,” are part of a broader effort to profile high-risk firms – especially those suspected of money laundering or market manipulation via cryptocurrencies. Regulators are “laying the groundwork” for stricter enforcement ahead.

Impact Analysis: Short-Term Pain, Long-Term Gain for Major Coins?

What does this mean for the crypto market?
– Short-term: Companies relying on “crypto hoarding stories” to boost stock prices may face tougher fundraising hurdles and increased regulatory risks, potentially cooling market sentiment temporarily.
– Long-term: It could be a boon for major tokens like BTC, ETH, and SOL. By weeding out unqualified shell companies that speculatively inflate stock prices, regulators will leave the field to compliant, well-funded firms. These companies are more likely to buy crypto rationally and hold long-term, reducing circulation and potentially driving up market capitalization and prices over time.

Notably, SOL Strategies has been approved to list on Nasdaq on September 9 under the ticker “STKE.” In the current regulatory climate, this “crypto-linked stock” could become a “test case” for market acceptance of crypto-related listings.

Read More《从狂飙到规范，美国监管机构开始给上市公司“加密热”降温》

This content is AI-generated and does not constitute investment advice. Please exercise your own rational judgment.

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