Lately, I keep hearing everyone talk about on-chain privacy. To be honest, my current expectation is quite low: anonymity isn't "disappearance," it's more like making the information less straightforward; if you really want to trace, you still can, just at a higher cost. As for compliance, don't expect a clear line—today a loophole might be loosened, tomorrow certain regions might impose extra taxes or tighten withdrawal and deposit policies, and the psychological impact makes you nervous. Anyway, the final pressure still falls on ordinary users.

The rule I set for myself is: on-chain activities are assumed to be visible; if possible, avoid hard-binding your identity and address. Use official channels when necessary; don't expect "technology can cover everything." I do use privacy tools, but mainly to reduce the chance of being watched, not to fight against regulations... It’s okay to be a bit slower and more troublesome; at least I can sleep more peacefully.