#加密货币监管政策 When I saw this news, the first thought that flashed through my mind was 2013. That year, Bitcoin surged from ¥1000 to ¥8000 and then fell back. Our group argued fiercely on forums, debating whether cryptocurrencies were a scam or not. Over ten years have passed, and platforms like Circle and Ripple, once looked down upon by traditional finance circles, are now entering the US financial system.

This is not just about a license. The significance of the Federal Trust Bank's status is understood by those who experienced the Tongzhou Bay incident in 2014, the ICO boom in 2017, and the Three Arrows Capital collapse in 2022—it's a credit endorsement, the beginning of institutionalization. Remember that during every bear market, the most common argument was "regulation will kill this industry." Now it seems that the way regulation arrives is much more complex than we imagined. It’s not simply saying "no," but rather "yes, but with conditions."

History tells an interesting story: projects that have survived until today, from resisting the system to integrating into it, this process itself is a reflection of cycles. It’s not about who wins or loses, but about rules constantly evolving, and smart builders learning to dance with the system. The current situation bears some resemblance to 2015—after risk is released, a new order is being established. This time, the crypto industry is no longer a bystander in the financial system.