#加密货币监管框架# Reflecting on the past, the evolution of the Crypto Assets regulatory framework has been quite tumultuous. From initially being overlooked to countries eagerly laying out plans, and now gradually becoming standardized, this journey has indeed been challenging. Germany's introduction of the first regulated Euro stablecoin, EURAU, is undoubtedly a milestone progress.

I remember during the ICO boom in 2017, regulation was almost non-existent. At that time, project teams could do as they pleased, while investors often suffered heavy losses. In contrast, the birth of EURAU is truly hard-earned. It not only obtained a license from the German Financial Supervisory Authority but also fully complies with the European "Crypto Assets Market Act" framework, being 100% collateralized and providing high transparency. This strict regulatory requirement precisely reflects the maturity and progress of the industry.

However, the strengthening of regulation is not something that can be achieved overnight. Looking back to 2018 when various countries began tightening their policies, many people were still complaining that regulation stifles innovation. But the fact has proven that orderly regulation can instead promote healthy development in the industry. The launch of EURAU is a perfect example, as it provides compliant and secure cross-border settlement solutions for institutional and enterprise clients.

Throughout history, every major regulatory measure has often been accompanied by significant market fluctuations. However, in the long run, these initiatives are driving the industry towards a more standardized and healthier direction. The successful launch of EURAU may signify that we are entering a new development stage—where regulation and innovation are balanced, and compliance and efficiency coexist.

Of course, the improvement of the regulatory framework will take time. However, Germany's move undoubtedly sets an example for other countries. We look forward to more innovative products like EURAU emerging in the future, allowing Crypto Assets to truly move towards mainstream applications. After all, only under a sound regulatory system can this industry gain broader trust and recognition.