#链上资产管理 The turning point in US crypto policy is truly eye-opening! From the past "regulatory crackdown" to now "regulatory integration," this is not just a simple change in attitude but a recognition of Web3 by the entire financial system.

What moved me the most are these three key signals: the SEC shifting from "litigation first" to a "structured regulatory framework," the CFTC treating Bitcoin and Ethereum on par with traditional collateral, and the OCC even issuing national trust bank licenses to Circle and Ripple. Do you understand what this means? It means on-chain asset management is no longer a niche activity but is moving into the core of mainstream finance.

Stablecoins are also gaining a "legal status." The GENIUS Act mandates 100% reserve backing, directly transforming stablecoins like USDC into legally recognized digital dollars. Previously, when discussing risks of on-chain assets, many would say "lack of regulatory protection," but now that excuse is completely invalid.

The most exciting development is seeing Bitcoin's rise from volatility at the beginning of the year to a new all-time high of $125,800 in October. This reflects a genuine increase in institutional confidence—government reserves, corporate bonds, all on the rise.

This moment is crucial. We are witnessing a paradigm shift from "cryptocurrency vs. traditional finance" to "cryptocurrency + traditional finance." For friends managing on-chain assets, the regulatory environment is clearer than ever, and institutional-grade security frameworks are gradually being established. The best moment has truly arrived.