加密货币的监管逆风

Stifles innovation, hands down. The big players have the resources to navigate complex regulatory landscapes. Smaller teams, often the ones pushing the boundaries, will get bogged down in compliance or simply won't be able to compete. It'll centralize power, not democratize it.

I'm leaning towards net positive for institutional adoption, but it's a double-edged sword. Clearer rules might bring in more big money, but those rules are often built with traditional finance in mind, which could definitely put smaller, more innovative projects at a disadvantage. We need a regulatory framework that encourages both.