The biggest long-term positive news for the cryptocurrency industry yesterday should be this, as SEC Chairman Paul stated that "financial markets are migrating to the blockchain," marking a historic turning point in the attitude of US regulators towards the crypto industry. First impression is positive for RWA Traditional financial assets such as stocks, bonds, treasury bond, and even real estate are no longer "gray zone" attempts, but the future direction recognized by the SEC. Related targets: Ondo Link and other asset tokenization protocols, as well as oracle machines. The second feeling is that TradFi (traditional finance) funds have entered the cryptocurrency circle positively Previously, giants such as BlackRock engaged in tokenized funds (such as BUIDL) by "crossing the river by feeling the stones". Now, with the words of the SEC chairman, not only BlackRock, but also more conservative banks such as JPMorgan Chase and Goldman Sachs will accelerate their asset deployment on their private or public chains. If TradFi goes live, who among the existing public chains is most likely to bear the dividends? Traditional Overlord or High Performance Public Chain Related subjects: ETH SOL SUI SEI Mon? I don't know if Bnbchain can surpass Western background public chains The third feeling is favorable for compliance projects Paul Atkins' statement is that he is willing to give crypto a green light for compliance, but the prerequisite is compliance. So compliant CEX, compliant stablecoins, compliant public chains, and even compliant Defi are all positive, and can be considered as "acceptable on chain financial channels" in the SEC's mind. However, DeFi, which is purely anonymous and completely permissionless, may have weaker narrative in the short term and may be forced to "fork" into two ecosystems: compliant and pure wild versions in the long term. Related subjects: BNB, Aave, USDC, etc ~~~~~~~~~~~~ Overall, it is a structural benefit for the entire industry, a huge benefit for "infrastructure+compliance assets", and a purely casino style narrative, which means that it will be increasingly marginalized in the future. In the future, the crypto industry may experience significant differentiation, with a gradual differentiation between those who play mainstream compliant coins and those who play meme/anonymous team coins, and research directions may also be inconsistent. But Paul Atkins' rule of law compared to his predecessor, Little Bald, makes you guess that the times have improved too much.