Have you noticed? The recent atmosphere has completely changed.

Over the past month, from Asia and the Middle East to North America, all international financial centers seem to have reached a consensus suddenly. The previous voices of "containment" and "warnings" have faded, replaced by "top-level design" and "licensing approvals." It's not that simple behind this; in fact, it's a quiet upgrade of the global financial infrastructure. The era of wild growth is indeed coming to an end. A new cycle that emphasizes rules, data, and credit has truly begun.

**What exactly is this new trend?**

Hong Kong's actions are the most systematic—they launched the "A-S-P-I-Re" strategic framework, in plain language, aiming to establish itself as a global virtual asset hub. From OTC licensing to compliant pledge lending, and even exploring derivatives markets, everything is being rolled out. The real goal is clear: to attract global institutional funds.

The U.S. is also at a critical juncture. The GENIUS Act has officially taken effect, paving the way for the digital dollar; Congress is pushing hard for the CLARITY Act, which aims to settle the debate—whether crypto assets are commodities or securities—once and for all. The policy doors are truly opening.

Institutions in the Dubai International Financial Centre are even more aggressive. Mashreq Capital has issued a multi-asset fund with a 5% Bitcoin exposure, with an investment threshold starting at just $100. This effectively packages Bitcoin as a traditional financial product, making it accessible to retail investors. This is a significant signal—formal institutional entry.

Singapore's moves are also brewing. Major global financial centers are taking action together, with a clear underlying logic: not to restrict, but to regulate, absorb, and control the virtual asset ecosystem. This time, it’s truly different.