1️⃣ Hainan's closure ≠ the release of digital assets.
The EF account addresses cross-border funding path issues, not asset attribute endorsement. For transactions, this means: the policy uncertainty premium has not disappeared; it has just been rephrased.
2️⃣ The essence of a 'clean U' is interpretability, not a decentralized label.
What truly determines whether something can circulate long-term is whether, in extreme censorship scenarios, the source, counterpart, and risk attribution can be clearly explained. On-chain transparency ≠ regulatory acceptability; these are two completely different dimensions.
3️⃣ High-yield stablecoins are a risk signal, not a moat.
During a liquidity contraction period, an annualized rate of 25%+ reflects structural incentives more than the risk-free rate. In trading, one should first ask 'who is subsidizing, and how long can the subsidy last', rather than 'will it turn positive'.
4️⃣ True alpha comes not from a single asset, but from compliant infrastructure.
Historically, during every policy window, the first to reap the benefits are the account systems, clearing and settlement, custody, and risk control layers, rather than some target touted as the 'official line'.
In trading, I tend to regard this kind of content as an emotional indicator rather than a fundamental confirmation.
Policy pilots can be studied, but do not price 'possibility' directly as 'certainty'.
