#加密资产监管框架 Looking back on the past, I can't help but feel a mixture of emotions. Over the years, I have witnessed the entire process of encryption assets going from obscurity to the spotlight. Now, even top American universities are making significant investments in Bitcoin-related assets, which is truly exciting. Brown University and Emory University collectively hold over 65 million dollars in Bitcoin assets, while Harvard holds a whopping 442.8 million dollars in Bitcoin ETF. This reminds me of 2013 when Bitcoin was just a plaything in geek circles. Who would have thought that in just ten years, it would become an object of investment that even Ivy League schools are competing for?

However, risks and opportunities coexist. The significant investments made by these universities will undoubtedly promote the mainstreaming of encryption assets. At the same time, it highlights the urgency of establishing a sound regulatory framework. Looking back at history, every rise of a new asset class has been accompanied by regulatory follow-up. Bitcoin is no exception.

The internet bubble and the subprime mortgage crisis of that year—each was a bitter fruit of delayed regulation. Now, with the lessons of the past, we should prepare for the future. I hope regulatory agencies can balance innovation and risk, paving the way for the healthy development of encryption assets. After all, history always repeats itself in new ways; what we can do is draw wisdom from the past and prepare for the future.