The virtual asset industry in 2025 is at a critical juncture where regulatory systematization, criminal sophistication, and technological innovation are deeply intertwined.

On February 6, 2026, China's financial regulatory system simultaneously released two highly significant policy documents: the "Notice on Further Preventing and Disposing of Risks Related to Virtual Currency and Other Matters" (Yin Fa [2026] No. 42) jointly issued by the People's Bank of China and seven other ministries, and the "Regulatory Guidelines on the Overseas Issuance of Asset-Backed Security Tokens by Domestic Assets" concurrently introduced by the China Securities Regulatory Commission (CSRC).

Moltbook was like a dazzling firework, illuminating people's fantasies about AI social interaction and also exposing the absurdity of current technology. Its collapse tells us not to easily believe those grand narratives of "consciousness awakening." But in the darkness after the fireworks fade, OpenClaw is quietly building the future. It moves AI out of the chatbox, equipping it with tools, and even a wallet. When AI starts hiring humans, when Agents possess on-chain identities, we are standing at the threshold of a new era. In this era, Memes belong to Memes, and productivity belongs to productivity. The most we can do is

SEC Commissioner: SEC Rules Should Not Create "Unnecessary Obstacles" in the Evolution of Tokenization Technology; SBF Files for Retrial, Attempting to Overturn FTX Fraud Conviction.

The current state of stablecoins bears a striking resemblance to privately issued currency before 1913.

Banks want to delay opening up the Fed's payment system, while crypto companies are eager to gain direct access as soon as possible.

Tencent Finance: A fund based in Hong Kong began buying the dip starting February 6; Morgan Stanley Analyst: Two mining companies are expected to rise over 150% within a year.

Bithumb Completes Handling of Bitcoin Mis-send Incident and Initiates User Compensation; Eugene: Bitcoin at $60K May Form Support, Survival Priority in Bear Market, Trading Requires Strict Stop-Loss.

The White House will hold another stablecoin earnings discussion meeting next Tuesday.

JPMorgan Chase recently launched a tokenized deposit service on Coinbase's Layer 2 blockchain, Base.

Tether's next move may reflect not only its own choices but also the realistic boundaries the entire stablecoin industry is currently facing.

On the contrary, as more and more teams embrace EVM, they are beginning to redefine a question: Are we choosing a chain, or are we choosing a growth strategy?

Decoding Tether's 2025 Freeze Core Data: From Prevention and Inquiry to Response, Everything You Need to Know in One Article.

While the crypto market continues to fluctuate in search of consensus, RWA is quietly approaching a critical point of industrialization. Moving from the on-chain restructuring of financial assets towards the capital connection of real production, the next step is: who will be the first to bring dormant assets into the global financial system?

Hong Kong Monetary Authority: Received 36 Stablecoin License Applications, Plans to Issue First Batch of Stablecoin Issuer Licenses in March; SEC Chair and CFTC Chair Launch Project Crypto to Unify Crypto Regulation.

The crypto industry is undergoing a brutal "species evolution," regressing from disruptor to dependent, shifting from creating assets to merely transporting them.