A senior executive from a leading exchange recently clarified some rumors regarding the White House's policy stance. He insisted that the White House has been proactive in promoting cryptocurrency-related legislation and is not as unpredictable as the outside world has rumored.

It is reported that the White House had proactively communicated with the exchange, hoping to facilitate a cooperative dialogue with the banking industry. The starting point of this cooperation is quite interesting — the focus is not on special treatment for big banks, but on enabling community banks and small to medium financial institutions to gain tangible benefits from this round of crypto regulation legislation.

Interestingly, the exchange suddenly announced last week that it would withdraw support for this legislation, sparking much industry discussion — is it a divergence in stance between the banking sector and the exchange, or is there another hidden reason? This public response also somewhat reflects the complex game among various parties in the structured regulation of the crypto market.