Regulators compete with blockchain for the future of cryptocurrency innovation

Mysten Labs, the developer of Sui blockchain, met with the U.S. Securities and Exchange Commission’s (SEC) cryptocurrency task force on September 9 to discuss Sui’s regulatory framework and ETF applications. The company highlights Sui’s high-throughput capabilities and key projects such as SuiNS, DeepBook and Walrus, and highlights its growth potential in the DeFi space. The SEC is reviewing 21Shares and Canary’s ETF applications and is expected to make a decision in the coming weeks. Sui’s recent milestones include a stablecoin balance exceeding US$1 billion and a total locked token number of 543 million. SUI is currently priced at around $3.51, and analysts predict that if the ETF is approved, the SUI price may rebound to above $5.