#美国证券交易委员会推进数字资产监管框架创新 The recent statement by U.S. Securities and Exchange Commission Chair Paul Atkins signals an important development: traditional financial markets are preparing to migrate to blockchain.

What does this shift in regulatory attitude mean? Market interpretation is clear—RWA (Real-World Asset Tokenization) is no longer a distant future but has become a direction for financial development in policymakers' eyes. In other words, this track indeed holds many opportunities.

But reality is always complex. For RWA to truly take off, several hurdles must be crossed:

**Ownership verification and information transparency of underlying assets**—you need to know that the assets backing the on-chain tokens are real.

**User access issues**—what is an appropriate threshold to protect investors while attracting participants?

**Liquidity dilemmas**—even if assets are on-chain, can trading convenience keep up?

Frankly, this isn’t something that can be solved overnight. The balance between innovation and risk requires careful calibration, and regulators, project teams, and users all need to find their respective positions. The future of RWA indeed looks promising, but the prerequisite is to resolve these fundamental issues first.