#加密货币监管政策发展 Looking back, the development of cryptocurrency regulatory policies has been full of ups and downs. Now seeing Entrée Capital launch a new $300 million fund to invest in Web3 infrastructure, I can't help but think of the scene from ten years ago when Bitcoin was just emerging. At that time, governments around the world were still exploring how to respond to this new phenomenon, and regulation was almost nonexistent. Today, we are witnessing a more mature policy framework gradually taking shape.

This massive investment targets projects that can operate within the existing regulatory framework, such as AI agents managing assets autonomously and decentralized physical infrastructure networks. This demonstrates that investors have already realized that successful future crypto projects must strike a balance between compliance and innovation. Reflecting on the past, those projects that blindly pursued disruption regardless of regulatory risks mostly failed in the end.

From Entrée Capital's investment directions, we can glimpse the future development trends of the crypto industry. The integration of AI and blockchain, and the on-chain tokenization of real-world assets, are all directions pushing the industry forward within the current regulatory framework. As a veteran who has witnessed the rise and fall of countless projects, I must say that only projects that can adapt to the regulatory environment and continuously innovate on that basis will survive long-term in this rapidly changing industry.

This round of investment also reminds me of the ICO boom in 2017. Back then, large amounts of capital flooded in, but due to the lack of effective regulation, many scams and bubbles emerged. In contrast, current investments are more rational and cautious, focusing more on long-term value and practical applications. This change is a direct result of the gradual improvement of regulatory policies and a sign of the industry's maturing.

Looking ahead, I believe that cryptocurrency regulation policies will continue to develop towards greater clarity and specificity. Project teams and investors need to closely monitor this trend and promote innovation based on compliance. After all, history has shown us that only projects that can adapt to the regulatory environment will bring long-term value to this industry.