#加密货币监管发展 It has been observed that the CFTC is taking a series of measures to expand regulation of Crypto Assets. The new Nasdaq monitoring system will provide automatic alerts and cross-market analysis capabilities, helping to monitor market abuse in real time. At the same time, the clarification of the FBOT sign up framework provides a legitimate pathway for non-U.S. trading platforms to enter the U.S. market. These initiatives indicate that regulators are actively adapting to the development of the crypto market, providing protection for investors while creating a clearer regulatory environment for industry participants. From an on-chain data perspective, this may affect the flow of funds and the behavior patterns of Large Investors. Close attention should be paid to the subsequent implementation details and their impact on market Liquidity and trading activity.