#加密货币监管立场 When I saw this message, I was thinking about a question: as the financial markets transition onto the chain becoming a major trend, how should we respond?

The statement from the SEC Chair is very clear—transparency, efficiency, innovation—these words all sound very appealing. Tokenized securities, on-chain custody, RWA assets... technology is indeed changing the face of finance. But what I want to say is that no matter how good the technology is, it cannot change a fundamental fact: risks always exist.

Over the years, I have seen too many people disrupt their plans because of "new opportunities." On-chain transformation is indeed a trend, but a trend itself does not equal opportunity. The truly prudent approach is: first understand your risk tolerance and asset allocation framework, then decide whether to follow and how much to follow.

Innovation exemption policies mean there will be a gray area for a period of time, and this is precisely when more caution is needed. Regulatory frameworks are still being improved, participants are still exploring, and uncertainty remains high. My advice is simple—if you decide to participate, make sure it only constitutes a small part of your overall assets, and do not break your original position management discipline just because it looks promising.

In the long run, this direction may indeed be correct. But the long term requires us to exercise restraint in the short term and use time to verify the authenticity of opportunities.