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The European Union's upcoming Digital Network Law has sparked industry attention. Tech giants like Google, Meta, Amazon, Netflix, and Microsoft will be excluded from stricter regulatory obligations, a result that surprised many. For years, European telecom operators have been exerting pressure, demanding that these platforms take on more responsibility, but the final legislation did not impose binding provisions on them. This reflects the power struggle between tech giants and regulators — even in the most regulated regions, large platforms can still shape policy outcomes through lobbying and negotiation. For the cryptocurrency industry, this sends a signal: there are clear differentiated standards in the global regulatory framework when it comes to different types of online participants.