Understanding the obstacles in the market structure draft is essential to better see the opportunities that follow. The clarity of CFTC regulation, the protection framework for DeFi, the confirmation of the non-subordinate status of mainstream tokens, the rules for stablecoins, and sandbox experiments—these series of policy adjustments all point in the same direction. From a broader perspective, these seemingly trivial regulatory developments are actually laying the groundwork for the entire ecosystem's compliance foundation. Instead of getting caught up in short-term setbacks, it’s better to focus on long-term accumulation. Continue to strengthen infrastructure and steadily advance as the market gradually matures.