The initiative reflects Beijing’s broader ambition to turn technological innovation into practical economic value while strengthening coordination across its digital ecosystem.
The latest proposed reforms could reshape how digital asset firms access European markets as the bloc seeks to make cross-border investment less fragmented.
Crypto continues to expand beyond trading as financial institutions, regulators and businesses increasingly integrate digital assets into the broader financial system.
The dispute highlights growing tensions between traditional banking models and new crypto-focused financial structures seeking access to the U.S. financial system.
The proposal also seeks to update broker-dealer custody arrangements and financial statement audit requirements to better reflect current crypto-related investment practices.
The agency is using its existing authority to shape how tokenized stocks can be issued and traded in U.S. markets, even without new congressional legislation.
Europe’s crypto rules may need further adjustments as digital assets become more closely linked to traditional financial services and cross-border markets.