According to CoinMeta, Wu said that the Digital Assets Trade Association of the United States has submitted a letter of opinion to the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), calling on these two agencies to strengthen coordination in order to provide a clear regulatory path for innovative products such as stock perpetual contracts. The association stated that currently, stock perpetual contracts are mainly traded outside of the United States, resulting in a lack of relevant price discovery and regulatory protection in the US market. It recommends that the CFTC and SEC refer to the existing joint regulatory framework for securities and futures, and develop rules based on principles of technical neutrality and result orientation, with a focus on market transparency, auditing, market monitoring, customer asset protection, and operational stability. The association believes that regulatory uncertainty is driving related liquidity, employment, and innovation to move overseas.