#美国加密货币监管 Noted that Russia may relax cryptocurrency regulations. This development is worth monitoring and could indicate a shift in the global crypto regulatory landscape. From on-chain data, no obvious changes in capital flow have been observed so far. However, if the policy is implemented, it is expected to boost trading activity for addresses related to Russia. It is recommended to continue tracking the fund movements of large Russian wallets and contract interactions, as these may serve as leading indicators of policy implementation. At the same time, remain vigilant for potential risks arising from regulatory arbitrage behaviors.