Viewpoint: The tightening regulatory environment is the reason why there is no incremental growth in the current bull market in the crypto

The biggest theme of this bull market cycle is still infrastructure, and application layer projects are collectively missing. Of course, there are endogenous factors, such as the imperfect infrastructure of crypto and the short falsification cycle of the application layer. But the core problem is that there is no increment, and the source of the lack of increment is the tightening regulatory environment. Major markets such as the United States have hit all non-compliant exchanges through the BN case. …