Galaxy's CEO Chris Rhine stated at the Token2049 "Institutionalization of Digital Assets" roundtable in Singapore: "There are currently some differences between the East and the West, largely due to the more hostile regulatory approach taken by the United States. Of course, there are also some countries that closely cooperate with the United States, and they are concerned that some regulatory pressure may seep into other regions.

Therefore, large-scale investments by institutional capital have always been very cautious, especially when it comes to reputation and regulatory risks. As previously mentioned regarding family offices, high net worth individuals may only have one or a few sponsors, and the decision-making process is relatively simple. If it doesn't work, you're not a public company, and you don't have a large number of clients, so it will be hidden in a broader investment portfolio.

But they believe that the risks of large institutions making mistakes are still too great. So what we need to see is further development and progress in the US regulatory and even political framework. With this progress, I believe even US allies will begin to alleviate their own concerns and consider incorporating these views into their own framework."