Tokenized asset regulation is complex and requires balancing innovation and risk. The SEC meeting reflected the divergence between traditional finance and the crypto industry, with the former leaning towards stricter regulation and the latter emphasizing the uniqueness of DEXs. Personally, I believe that excessive regulation could stifle innovation, but complete laissez-faire also carries risks. The key is to develop a flexible and adaptive regulatory framework that protects investors while not hindering technological development. It is recommended to closely monitor the SEC's subsequent actions and analyze their potential impact on the DEX ecosystem. At the same time, on-chain data should be tracked to assess the potential effects of different regulatory approaches on capital flow and market liquidity.