The countdown for the shanzhai coins has already begun.

Once the beautiful country's stock market is fully tokenized, compliant stocks will be able to circulate on the blockchain and be listed on exchanges. Those shanzhai coins that rely on empty promises and storytelling will basically be packaged and sent off.

COIN is doing this, turning on-chain securities into the mainstream. Many stocks that have just gone public have market values of only tens of millions or a couple of hundred million, and for retail investors, they are not much different from small-cap coins — but at least they are regulatory compliant and have real businesses.