For DeFi projects that are actually building, 'clear regulations' are a good thing. Stablecoins are being forced to shift from 'crypto bank deposits' to 'payment tools + DeFi fuel.' Previously, stablecoins sat idle on CEX earning interest, but now they're flowing more into on-chain protocols, boosting DeFi's TVL, trading volume, and real usage because 'rewards only go to those who work.' In the long run, this is also good for Ethereum.