#加密货币监管政策 The US crypto bill is about to be delayed again, and I've seen through this matter long ago. From last year when they said they would legislate, to this year still in "negotiations," honestly, it's just interest groups not reaching an agreement. The SEC wants more power, DeFi developers want protection, and the President's involvement in the ethical standards of digital assets has become a stumbling block—these issues seem lofty but in reality, it's just parties fighting over territory.

I've seen too many people rush in expecting policy benefits, only to find that the policy doesn't come, and the project collapses first. The game rules of regulation are like this: the more "about to be implemented" news, the more cautious you should be. Projects that promote "policy benefits are imminent" are often just giving themselves time to escape.

Delaying until next year? I'm quite used to it. The key isn't when the bill passes, but understanding one principle: don't bet on policies. Those who can survive long-term are investors who don't rely on external salvation and focus on the project's fundamentals. The voices shouting every day that "policy benefits are about to materialize" are actually the biggest risk signals.

As usual, policy delays = increased market volatility = be especially wary of those who harvest during chaos.