The SEC originally had a meeting scheduled for tonight that was pretty worth paying attention to for the crypto community. But guess what? It got canceled last minute. The original plan was for the SEC to discuss a new set of issuance rules for crypto, aiming to establish a more targeted regulatory framework for certain investment contracts involving crypto assets. One particularly interesting direction in this was the Token Safe Harbor. The term sounds super regulatory, but the underlying issue is actually very crypto-specific: when a project first starts, the code is written by the team, the funding is raised by the team, and the roadmap is set by the team. So, at what point does it transition from being "a project driven by a team" to truly becoming "a decentralized network"? The tricky part in the past was that many projects didn’t know at what stage regulators would consider them no longer under securities regulation. What Safe Harbor aims to address is this gray area in between. So, I think the real thing to pay attention to isn’t whether today’s meeting happened or not. It’s that the SEC’s regulatory approach is shifting: In the past, the debate was: "Is this token a security or not?" Now, the discussion is: "What conditions need to be met for it to move out of securities regulation?" The first question leads to lawsuits. The second question is better suited for business. Meetings can be postponed. But what the crypto community has been waiting for all these years is a set of game rules that can be understood in advance.