好文，值得传播
当罗宾汉推出 OpenAI 股权代币、当币安上架特斯拉股票合约 — — 我们是在交易什么？平台将面对何种风险？
或许 “形式服从于实质” 的铁律能够巧妙地解释这一切。
规则的出现并不会压制 “链上股票、RWA” 的发展，反而会催化出更多机会与可能，我想以后有关 Token 化证券的讨论应该会不断提起这份声明。
不过并没有提到我最感兴趣的 “链上股票与个人纳税” 之间的问题，或许之后会有更多补充。
https://twitter.com/0xWatell/status/2016812308274827741

Twitter

Excellent article, worth sharing.

When Robinhood launches OpenAI equity tokens, when Binance lists Tesla stock contracts—what are we trading? What risks will the platforms face?

Perhaps the ironclad rule of "form follows substance" can cleverly explain all of this.

The emergence of these rules will not suppress the development of "on-chain stocks" or "RWA," but rather catalyze more opportunities and possibilities. I think future discussions about tokenized securities will increasingly reference this statement.

However, it doesn't address the issue I'm most interested in: the relationship between "on-chain stocks and personal taxation." Perhaps more details will follow later.

https://twitter.com/0xWatell/status/2016812308274827741

The release of this new regulation marks a historic leap in the attitude of Chinese regulators towards virtual assets, shifting from a "complete ban" to a "combination of restriction and guidance."

Article Author & Source: Guofeng Law Firm On February 6, 2026, the "Notice on Further Preventing and Handling Risks Related to Virtual Currencies" (Yinfa [2026] No. 42, hereinafter referred to as "Document No. 42"), jointly issued by eight ministries led by the People's Bank of China, and the "Regulatory Guidelines on the Issuance of Asset-Backed Securities Tokens Overseas by Domestic Assets" (hereinafter referred to as the "Guidelines") simultaneously issued by the China Securities Regulatory Commission, have triggered significant reactions in the legal and financial circles...

Breaking News! The Year of China's RWA: A Compliant Channel Opens for Trillions of Yuan in Domestic Assets to Go Global

BitMEX co-founder Arthur Hayes wrote that the recent Bitcoin crash may stem from traders' concerns about IBIT (BlackRock) […]
The article, "Arthur Hayes Speculates on BTC Crash Cause: 'Institutional Hedging Operations': IBIT Options Explode $900 Million," was originally published on BlockTempo, the most influential blockchain ABMedia media.

Arthur Hayes speculates that the reason for the BTC crash is "institutional hedging operations": IBIT options saw a surge of $900 million.

Unusual trading in BlackRock’s bitcoin ETF, iShares Bitcoin Trust (IBIT), has led traders to speculate that this week’s sharp Bitcoin drop may have been triggered by one or more Hong Kong–based hedge ...