According to Ava Labs' legal team, the upcoming regulatory decisions from the SEC and CFTC will be critical in shaping crypto's regulatory landscape. These two agencies' stance on digital assets will essentially define where the industry heads next. The clarity—or lack thereof—from their rulings could either accelerate institutional adoption or create more compliance headaches for projects and platforms. Right now, everyone's watching to see if these agencies will finally establish clear guardrails or continue with the current fragmented approach. Their moves won't just affect Avalanche and other Layer-1 projects; they'll impact the entire ecosystem's future direction.