#监管框架与政策 The US SEC is holding a roundtable on December 15 to discuss financial regulation and privacy issues, which is a signal worth following. After experiencing several rounds of reshuffling in the crypto world, I increasingly believe in a principle: the clarity of the regulatory framework directly determines the life and death of a project.

Do you remember those projects that claimed to be for "privacy protection"? Now they have basically all become risk assets. Regulatory authorities are increasingly paying attention to this area, indicating that the compliance game on the chain has entered a new phase. The SEC is now clearly set to discuss the balance between financial regulation and privacy, reflecting a shift in the United States' attitude towards the crypto ecosystem—from complete denial to seeking a framework balance.

For us retail investors, this is not a simple matter of determining whether it is good news. Instead, we need to ask ourselves a few questions: Can the projects you are optimistic about adapt to a stricter regulatory environment? Does its tokenomics hold up to scrutiny? Or does it fundamentally rely on policy loopholes to survive?

After the results of the meeting on December 15 are announced, the market will definitely react. However, what is more important than the reaction itself is to recognize the situation in advance—those projects that need to evade regulation to survive are not worth the gamble, no matter how big the story is. Surviving longer is the logic of being a winner.