#加密货币监管政策动向 Looking back at history, I have witnessed countless ups and downs in cryptocurrency policies. Korea's recent move inevitably reminds me of the regulatory storm that followed the frenzied bull run of 2017. At that time, governments around the world tightened their policies, and the market was filled with wailing. But in hindsight, that round of rectification actually laid the foundation for the industry's long-term development.

Now Korea is expanding the scope of the "travel rule" and strictly investigating major shareholders' backgrounds. On the surface, it's about cracking down on money laundering, but in reality, it's preparing for the next bull run. History is strikingly similar: after every major regulatory action, the industry is reshuffled and a new round of growth often follows.

However, there's a detail worth noting this time: the regulatory scope has been expanded to include transactions below 1 million KRW. This means that retail investors will also be subject to strict regulation. From past experience, this may dampen market enthusiasm in the short term, but in the long run, it is conducive to building a healthier ecosystem.

For those of us who've lived through multiple cycles, instead of panicking, it's better to treat this as another opportunity to filter out quality projects. After all, projects that can survive under strict regulation are often more resilient.