Some time ago, I saw discussions about Trump's policy adjustments, and many people misunderstood them. First, let's clarify one point — the United States has not truly withdrawn from the United Nations. This is a common misinterpretation.

The US still holds its permanent member seat, and the rights of the UN General Assembly and Security Council remain unchanged. The dues are still paid as required, all under the legal framework of the Charter. Guterres has also emphasized this point specifically. The so-called "withdrawal from the group" actually refers to withdrawing from certain specialized agencies, affiliated organizations, and cooperative entities under the UN, with a limited scope.

However, there is a noteworthy phenomenon here: after the US withdrew from cross-border regulatory coordination agencies including the FSB, a regulatory vacuum has appeared in the field of crypto asset regulation. In simple terms, these international coordination mechanisms that previously constrained and guided crypto regulation have now loosened.

What does this change mean for the market? It increases regulatory framework uncertainty, which could create opportunities or risks. In recent market movements, new narratives and opportunities may be hidden within these structural changes. It's worth paying close attention to some developments.