Wall Street Pushback Halts SEC's Crypto Fundraising Framework, Sources Say
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Multiple Wall Street firms are collectively advocating for "buying on dips" in the semiconductor sector: the long-term logic of AI remains unchanged, but investment is entering an era of selective buying.
According to Mars Finance, on July 7th, amidst the recent continuous correction in the semiconductor sector, several Wall Street institutions have voiced their opinions, generally believing that the current adjustment presents an opportunity for investors to "buy on dips." However, unlike past recommendations to allocate across the entire semiconductor sector, institutions generally believe that AI investment has entered a phase of selective stock picking. Goldman Sachs stated that AI chip trading has entered a more selective phase, and does not recommend continuing to "buy a basket" of semiconductor stocks. They remain optimistic about specific sub-sectors such as CPUs, ASICs, memory, and semiconductor equipment, specifically highlighting AMD and Applied Materials. JPMorgan Chase believes that the recent correction in semiconductor stocks presents a good entry window, as AI chip demand remains in a long-term upward cycle, with new capacity not expected to be significantly released until around 2028, and the industry's supply and demand structure remains healthy. Bank of America maintains its optimistic outlook on the long-term boom cycle of AI semiconductors, believing the industry is still in the middle of an 8- to 10-year growth cycle, and the global semiconductor market size is expected to continue to expand. They recommend focusing on industry leaders such as Nvidia, Broadcom, Lam Research, and KLA. UBS stated that the long-term investment logic for AI remains unchanged, and the short-term fluctuations in the semiconductor sector actually provide long-term investors with opportunities to gradually build positions. They recommend taking advantage of market corrections to buy on dips. Morgan Stanley believes that the long-term prospects for AI chips remain positive, but with the sector's significant rise, the market will focus more on earnings realization capabilities. Funds may gradually rotate from some chip stocks to AI infrastructure beneficiaries such as cloud computing, and investors should pay more attention to individual stock selection. Overall, several Wall Street institutions, including Goldman Sachs, JPMorgan Chase, Bank of America, and UBS, have recently released similar signals: the semiconductor correction is not the end of the AI rally, but rather provides a new window for investment. However, the market has moved from a phase of "broad-based sector gains" to one of "selecting leading companies," and future performance will depend more on companies' earnings realization capabilities and the sustainability of demand for AI infrastructure.
The U.S. Securities and Exchange Commission (SEC) is expected to propose cryptocurrency rules as early as this month to streamline the fundraising process for startups.
PANews reported on July 8th that, according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) has updated its agenda, indicating it plans to propose new cryptocurrency rules as early as this month. The rule would establish a temporary registration exemption for developers launching crypto investment contracts, allow for a certain amount of financing, and create a safe harbor for issuers exiting securities regulation. SEC Chairman Paul Atkins stated that this move aims to achieve the goal of "making the U.S. the global crypto capital," establishing clear rules for crypto asset financing, and providing clear guidance for the custody and trading of on-chain tokenized securities. This is the SEC's first major rule-making effort in the crypto space; previously, the agency had released a digital asset taxonomy and begun developing related plans to promote tokenized securities. The cryptocurrency rule is currently under review by the White House Office of Information and Regulatory Affairs.
Russia's State Duma approved the final version of the cryptocurrency regulation bill, removing the mandatory requirement to declare wallet addresses.
According to Mars Finance, the Russian State Duma Financial Market Committee has approved the final version of the government's cryptocurrency regulatory bill, which will be submitted for a second reading. Committee Chairman Anatoly Aksakov revealed that the second reading version makes several key adjustments: the requirement to mandatorily declare cryptocurrency wallet addresses has been removed, replaced by only requiring the declaration of balances and transaction records to protect residents from the risk of sensitive information leaks; new amendments allow the legal purchase of securities in the securities market and Russian digital financial assets using cryptocurrencies. In the future, it may allow legitimate Russian brokers and asset managers to trade on foreign crypto exchage, but additional requirements such as jurisdictional "friendliness" must be met. For non-professional investors, the annual limit through a single intermediary is 300,000 rubles, and only for "the most liquid cryptocurrencies." The bill also introduces a two-day freeze on large transfers abroad and to third parties. Aksakov did not specify whether the proposal to ban Russians from using non-custodial cryptocurrency wallets is retained.
The U.S. SEC released a statement on its 2026 regulatory agenda: promoting the trading of tokenized securities and advancing the development of crypto rules.
According to Odaily Odaily, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins released a statement regarding the 2026 regulatory agenda, indicating that the SEC will continue to advance a series of regulatory reforms, including adapting the regulatory framework to the current market environment, actively embracing innovation and new technologies, implementing President Trump's goal of "making America the global crypto capital," promoting the launch of more crypto-related products in the U.S. market, establishing clear rules for crypto asset financing, and clarifying the on-chain custody of market participants and promoting on-chain tokenized securities trading. Regarding capital market reforms, the U.S. SEC will advance its "Make IPOs Great Again" initiative, which aims to encourage more companies to enter the public market by reforming information disclosure systems and reducing compliance costs for companies seeking to go public, while maintaining necessary investor protection measures.
Crypto sectors generally declined, with the meme sector falling nearly 3%, while only the SocialFi sector remained relatively resilient.
According to Foresight News , data from SoSoValue shows that the crypto market sector has seen a correction after several days of gains. The Meme sector fell 2.72% in the last 24 hours. Within the sector, Bonk (BONK) fell 8.57%, while MemeCore (M) and BUILDon (B) fell 13.17% and 19.36%, respectively. In other sectors, the Layer 2 sector fell 0.36% in the last 24 hours, but ImmutableX (IMX) rose 4.27%; the DeFi sector fell 0.44%, while EdgeX (EDGE) bucked the trend, rising 29.92%; the Layer 1 sector fell 0.69%, with NEAR Protocol (NEAR) remaining relatively strong, rising 2.89%; the CeFi sector fell 0.74%, with Bitget Token (BGB) falling 3.17%; the PayFi sector fell 0.96%, with Trust Wallet (TWT) rising 1.39% intraday; the SocialFi sector remained relatively strong, rising 0.35% in the last 24 hours, with Gram (GRAM) rising 0.57%. Crypto sector indices reflecting historical sector performance show that the ssiSocialFi index rose 0.20%, while the ssiAI and ssiMeme indices fell 2.55% and 2.27%, respectively.
Crypto hacker losses decreased by 47% year-on-year in the first half of 2026, but the overall security situation has not improved.
According to Foresight News , citing Cointelegraph, total losses from cryptocurrency security incidents in the first half of 2026 amounted to approximately $1.32 billion, a 46.8% decrease year-over-year. However, CertiK warns that this figure is misleading. The data from the same period last year was severely distorted by the massive $1.4 billion theft from Bybit, the largest single hack in history. In reality, attackers are becoming more targeted and destructive. Specifically, phishing attacks resulted in $508.2 million in losses in the first quarter, while losses in the second quarter rose 59% quarter-over-quarter to $807.5 million. Over 70% of these losses came from the KelpDAO and Drift Protocol incidents, both believed to be the work of North Korean state-sponsored hackers. A report from TRM Labs during the same period also indicated that the number of attacks surged from 83 to 207 in the first half of the year, the highest on record, with smart contract vulnerability attacks accounting for 60%. CertiK also points out that private key and multi-signature wallet management remain the most vulnerable security areas that attackers can exploit. He recommends that protocol providers strengthen private key management from multiple levels, including hardware security, multi-signature governance, and geographically dispersed signers.