Cryptocurrency Market Morning Overview: Inflation Data Improves, Major Shift in Uniswap Governance, Virtual Asset Regulatory Framework Clarifies

Positive Signals from Economic Data

U.S. economic data released positive signals. According to statistics, last week’s initial unemployment claims were 224,000, in line with expectations, and the November unadjusted year-over-year CPI was 2.7%, below the expected 3.1%, indicating that inflationary pressures are gradually easing.

Hassett, Director of the White House National Economic Council, commented optimistically on the latest CPI report, calling it a “remarkably good report.” He believes the U.S. economy is showing a healthy trend of high growth coupled with declining inflation, with wage growth surpassing the increase in prices. Additionally, Hassett pointed out that the Federal Reserve still has considerable room to cut interest rates, which could potentially benefit the liquidity environment in the crypto market.

SEC Releases Virtual Asset Regulatory Guidelines

The SEC’s Division of Trading and Markets officially published a FAQ guide on virtual assets and Distributed Ledger Technology (DLT), providing clear compliance guidance for market participants. The core contents of the guide include:

Responsibilities of Broker-Dealers: Non-security virtual assets are not subject to Rule 15c3-3 of the Securities Exchange Act, but if they involve “virtual asset securities,” control mechanisms must be established to meet compliance requirements.

Protection of Customer Assets: Virtual assets not registered under the Securities Act are not protected by the Securities Investor Protection Corporation (SIPC). Regulators suggest treating non-security virtual assets as “financial assets” under UCC Article 8 and including them in “securities accounts” to enhance asset independence during bankruptcy proceedings.

Dual Asset Trading Pairs: National securities exchanges and alternative trading systems can offer “virtual asset securities/non-security assets” pairing trades, provided they meet regulatory requirements and disclose relevant information clearly in related filings.

Transfer Agents and DLT: If transfer agents provide securities transfer services for virtual asset issuers and the assets are registered securities, registration with the SEC is required. The regulators do not oppose using blockchain as the primary ledger, as long as all record-keeping and federal regulatory requirements are satisfied.

Clearing, Settlement, and ETPs: Registered broker-dealers operating alternative trading systems can clear client trades within their account ledgers; the SEC does not require them to register as clearing agencies. For ETPs involving virtual assets, the SEC supports following the guidance of the 2006 Commodity ETP no-action letter.

This regulatory framework marks a further clarification of the legal status of virtual assets and lays a foundation for institutional participation.

Bitwise Plans to Launch Spot Sui ETF

Asset management firm Bitwise has submitted Form S-1 to the SEC, planning to launch a spot Bitwise Sui ETF. The product will track the value of Sui held in a Sui trust (net of fees). According to the latest data, Sui is currently priced at $1.78. This new investment product is expected to provide traditional investors with a standardized Sui exposure. The Sui trust’s virtual assets will be custodyed by Coinbase Custody, with some assets also planned for staking to generate additional yield.

Historic Moment for Uniswap Governance

Uniswap founder Hayden Adams announced that the Unification proposal has been submitted for final governance voting. The vote will commence at 10:30 PM (Eastern Time) on December 19 and end on December 25.

If approved, after a 2-day timelock period, Uniswap will implement the following major measures:

Token Burn: Burn 100 million UNI tokens. Based on the latest data, UNI is priced at $5.33, and this burn will significantly optimize the tokenomics.

Fee Switch Activation: Enable fee switches for v2 and v3 on the mainnet, and initiate the UNI token burn process, including fees generated by Unichain.

Governance Alignment: Uniswap Labs will establish a legally binding contract protocol, based on Wyoming’s DUNA law, to align with Uniswap governance.

This proposal represents an important step in Uniswap’s transformation from a purely technical platform to a complete economic system, embodying the new economic model of the first decentralized exchange.

Tokenization Trend Accelerates

Standard Chartered Launches Tokenized Deposit Service: Standard Chartered Bank (Hong Kong) and Ant International jointly launched a tokenized deposit solution supporting HKD, RMB, and USD accounts. This allows Ant International’s business entities to adopt a new cash management model, enabling real-time cross-currency fund transfers 24/7, significantly improving operational efficiency for traditional financial institutions.

Sui Ecosystem Financing Developments: Solana-based DePIN project Fuse Energy announced the completion of a $70 million Series B funding round led by Lowercarbon Capital and Balderton Capital, with a post-money valuation of $5 billion. This funding reflects ongoing market interest in on-chain energy infrastructure.

Forward Industries Tokenized Stock Launch: Nasdaq-listed Forward Industries announced that its SEC-registered stock is now live on the Solana blockchain via the Superstate platform. Qualified investors can use the tokenized stock as collateral to borrow stablecoins, enabling on-chain liquidity while maintaining exposure to the underlying equity.

The expansion of tokenized assets demonstrates new possibilities for integrating traditional finance with the on-chain world. Initiatives by companies like VivoPower further validate the sustainability of this trend.

Market Outlook

The current market features a policy-friendly environment, clear regulations, and accelerated innovation. Improved inflation data creates conditions for liquidity release, SEC’s virtual asset guidelines reduce compliance risks for institutional participation, and Uniswap’s governance innovation and tokenization wave showcase the vitality of crypto ecosystem innovation. The performance of mainstream assets like Ethereum ($3.30K), XRP ($2.06), and others will be tested as policies are implemented.