Perhaps the SEC understands very well that its current move is actually provoking someone else.

Zhao Changpeng stated that the release of the white paper is a positive development for the industry.

Overall, the global mainstream regulatory attitude is primarily cautious, with regulatory bodies in various countries believing that cryptocurrency service providers offering key functions should obtain licenses, registrations, and authorizations.

The fact is this: even if Satoshi Nakamoto's identity is unknown, the regulations governing encryption are clear.

While many countries remain inactive during the crypto winter, Japan is ready to play a unique role in the crypto industry.

"The attitude towards cryptocurrency and digital assets depends on the maturity of the financial system and regulatory framework of the country."

The authorities have recognized the improvements in payment efficiency, cost, and security brought by encryption technology. Currently, the authorities have established the first framework to develop digital assets in a safe and responsible manner while addressing the risks they pose.

The demand for taxation on cryptocurrencies may potentially drive the legalization of the cryptocurrency industry in China.

"Only with proper and appropriate regulation and compliance requirements, especially in areas such as corporate governance, financial and operational disclosures, as well as investor and user protection, can the long-term development of the virtual asset industry be beneficial, which is also the latest consensus internationally."

I would rather shut down the company's Ethereum staking service than accept U.S. scrutiny and sanctions.