I heard that Singapore is going to clean up the unlicensed Web3 groups this time. All crypto companies registered in Singapore, even those that only serve overseas clients, must obtain a Digital Token Service Provider (DTSP) license by June 30, or they will face fines of up to 250,000 Singapore dollars and a maximum of three years in prison, with no transition period. For legitimate projects, this may just mean going through a few more processes, but for those teams that come specifically to exploit others, the costs have suddenly increased, and they may have to start 'shifting their positions' again. Currently, places like Hong Kong, Dubai, Tokyo, Kuala Lumpur, and Bangkok are actively attracting these businesses. As for when China will officially embrace blockchain, although it has been quietly laying the groundwork, from the national chain, BSN, to digital renminbi, the free market has not yet been opened. If policies loosen, which of the domestic internet giants wouldn't want to get in on some 'big business'? Once they take action, the industry landscape could be reshuffled in an instant. And while BTC at 1 million and ETH at 10,000 sounds like a dream, if global asset digitization truly becomes mainstream and institutions enter the market on a large scale, it’s not completely impossible. The key will still depend on whether Web3 can truly get on the 'right track' after this wave of global regulation. In summary, under the regulatory storm, the future of Web3 is full of uncertainties, but it also harbors new opportunities.