The Financial Stability Board (FSB) recently issued a critical warning, pointing out that the global cryptocurrency regulatory framework has obvious "significant gaps." The root cause lies in the far insufficient coordination mechanisms across jurisdictions, leading to systemic underestimation of risks such as market manipulation, fraud, and extreme volatility.

This phenomenon has a more profound impact on traders than imagined. The uncertainty in regulation itself constitutes the greatest risk—sudden policy shifts could instantly rewrite the entire market landscape. We have seen countless such shocks in history.

But from another perspective, this is precisely a signal. The smart money is not lamenting regulatory pressure but studying the direction of regulatory evolution. Investors who proactively develop compliance frameworks and embrace compliant assets are preparing for the next cycle.

The path to maturity for the crypto market must go through standardization. No matter how you view this process, one fact remains unchanged: the participants in the next bull market will be those who see opportunities in regulatory signals rather than just risks. Compliance is not a burden but a ticket into the new era.