The future development of the crypto assets industry should not be based on regulatory loopholes, but rather needs the legal system to recognize the new realities brought about by blockchain technology. This includes three key aspects: First, developers do not actually control user funds and therefore should not be regarded as "remitters" in the traditional sense; second, decentralized finance (DeFi) protocols do not inherently hold user assets and do not directly participate in transaction matching, and thus cannot simply be classified as intermediary institutions; finally, network tokens, due to their decentralized nature, should not be broadly regarded as securities.

Legislative bodies need to update the existing legal framework to accommodate the new characteristics of blockchain technology that eliminate issues such as "custodial risk, arbitrary control, and information asymmetry" present in traditional finance. However, we must also be vigilant: if inappropriate privileges are sought for those who actually control funds or issue similar equity, it will undermine the fundamental principles of the entire industry and may trigger fraud and collapse events.

The crypto industry should rely on its technological advantages to achieve success. Once the law clarifies the roles and responsibilities of all parties, we can foresee that in the future, all property rights will be guaranteed through encryption, rather than attempting to negate regulatory rules that still hold significant importance. This approach can both protect innovation and maintain the stability of the financial system.

In this rapidly evolving field, balancing the relationship between innovation and regulation, technology and law is crucial. By establishing a clear legal framework, the crypto industry can fully leverage its revolutionary potential on a compliant basis, bringing positive changes to the global financial system.