I feel that Singapore's rush to attract people and offshore CEX self inspection is a turning point in the industry. Power and traditional institutions have entered the cryptocurrency circle, bringing about a surge in mainstream currencies, as well as various rules of traditional finance, especially banks. Offshore users will find it increasingly difficult to adapt, which is probably a big trend. The offshore space is getting smaller and smaller, and CEXs are fully approaching banks. Bitcoin and Ethereum, as unlicensed representatives, will also be more prominent and precious in value.