Recent news about US regulators advancing tokenized stock trading plans has sparked heated discussions in the market. What is behind this policy?

On the surface, it appears to be financial innovation, but the underlying logic is worth pondering. Traditional financial systems want to impose their centralized rules onto the crypto market under the guise of "tokenization." A collision of two worlds is happening.

From PEPE to SHIB, these grassroots projects' liquidity and valuation are entirely determined by the market, and no one can monopolize pricing power. But what will happen once policies tighten and compliance requirements increase layer by layer? A large amount of liquidity could be drained, as if a war of information asymmetry is being fought.

The key to this game lies in who holds the pricing power. Wall Street has capital, channels, and regulatory influence. If the policy direction for tokenized stocks is ultimately dominated by these institutions, retail investors' options will inevitably be squeezed.

But there is no need to be overly pessimistic. The true value of decentralized assets and autonomous custody will, in fact, be re-evaluated in this process. The key is to understand the changes in the game rules and adjust strategies in a timely manner—not passively waiting, but actively responding.