#加密货币监管 Argentina's recent moves are quite interesting—shifting from outright bans to "regulated integration," essentially acknowledging reality and guiding rather than blocking. The underlying logic is driven by economic pressure: high inflation, peso devaluation, and the fact that ordinary people have long been active in shadow markets. Bans are essentially ineffective; it’s better to bring this volume into a regulated banking system, which can both control risks and collect taxes.

The lesson for our copy trading is that regulatory loosening often signals market expansion. Once traditional finance enters the scene, the scale of funds and trading depth will undergo a qualitative change, and institutional traders will adjust their strategies accordingly. Those who are currently adept at trading on crypto exchanges—can they maintain their advantage as large capital flows in and counterparties strengthen? This is a key point to observe when choosing whom to follow.

Another thing to watch out for is the change in capital flows. When banks become the main liquidity providers, volatility may decrease, but liquidity traps can become more likely. When copying across different accounts, traders who rely on high-volatility arbitrage strategies may become ineffective. Instead, more attention should be paid to traders who can adapt to institutional-level counterparties.

Such policy shifts often mark the beginning of a re-pricing of trading logic. Recognizing early and adjusting promptly is the experience gained through practice.