Tax policy is turning into an all-or-nothing fight with zero room for compromise. Stablecoin frameworks? They're tearing apart central banks and governments, exposing deep cracks in who actually controls monetary policy. Meanwhile, exchanges are playing geographic chess—hopping to friendlier jurisdictions as their home markets tighten the screws. Here's the kicker: emerging markets are seeing user adoption explode at a pace that makes regulators look like they're standing still. The gap between innovation and oversight keeps widening.