Coinbase subsequently released its own products for RWA asset on chain and tokenized stocks, which, combined with Robinhood's previous actions in cryptocurrency and stock on chain, shows that the United States has formed a consensus from regulatory authorities to core large companies: -Developing stablecoins, expanding the dominance of the US dollar, and increasing demand for US bonds; -Vigorously promote the listing and RWA of US stocks, lower the threshold for US stocks to enter the Golden Gate, and attract funds from the cryptocurrency industry and the world to the United States. What can web3 startups do in the United States? At least for now, there are no policy barriers to issuing coins, but what exactly can be done to issue coins is still a big question. What about companies in Asia? At present, policy progress lags behind that of the United States, and large companies are waiting for policies. Perhaps start-up companies still have a piece of the pie?