The changes in the US policy environment have once again become the focus of market attention. Recently, US leaders publicly stated that the traditional financial system has reached a bottleneck, and the cryptocurrency era is at a critical point. These remarks have sparked considerable reflection within the industry—are they political statements or genuine signals of development?

From a systemic perspective, the traditional financial framework indeed faces multidimensional pressures. Inefficient cross-border transfers, lengthy intermediary processes, and high costs have accumulated over many years. Decentralized solutions provided by blockchain technology are gradually gaining mainstream recognition. The shift in policy guidance may accelerate institutional capital's allocation toward on-chain assets.

In terms of market response, such policy signals often trigger chain reactions among investors. Traditional financial institutions are softening their stance on the crypto sector, with more large funds and banks establishing digital asset departments. However, it is important to remain cautious: policy support, technological advancement, and regulatory framework improvement are all indispensable. Political statements alone are insufficient to drive industry transformation.

In reality, the key issue lies in how to balance opportunities and risks during the transformation process. On-chain finance has indeed improved efficiency but also introduces new risk dimensions. Investors should focus on: when will the policy framework be fully developed? How genuine is the participation of mainstream financial institutions? Is the market infrastructure sufficiently mature?

The market performance of projects like POL and ZEC somewhat reflects market expectations of this transition. However, in the long term, the true determinants of the industry's direction are the comprehensive evolution of technological practices, regulatory clarity, and market maturity. Short-term policy benefits need to be validated by long-term fundamentals.

What are your thoughts on the current changes in the policy environment? Has the evolution of the relationship between traditional finance and on-chain finance become an inevitable trend?