During his campaign, Trump said, "I will ensure that America becomes the cryptocurrency capital of the world and a superpower in Bitcoin."

The next U.S. president embraces Bitcoin, making cryptocurrency great in America. Perhaps the most common phrase is, "We are letting it go," but here, stability is the first priority.

Hong Kong is a pilot, as everyone knows. A few days ago, the L1 public chain Flare announced partnerships with several Hong Kong fintech companies to pilot the world's first decentralized identity verification application scenario, specifically designed for mainland Chinese visitors to Hong Kong.

Does this mean that the anticipated openings are gradually being relaxed?

First, let's summarize Flare:

Total funding of $46.3 million, already listed on 19 exchanges including Coinbase and OKX, with a current circulating market cap of $758 million, ranking 103.

It is currently promoting FAssets, enabling cryptocurrencies that do not support smart contracts to achieve Turing-complete smart contract programming (Solidity) on the Flare network for decentralized finance. FAssets can be understood as a form of collateralized loans to release asset liquidity. Users need to lock tokens that do not support smart contracts in the FAssets network's agency, and then mint corresponding FAssets. Redemption is the reverse operation. For example, BTC <-> FBTC.

Hapi has researched it, and while it may not be the ultimate goal everyone desires, there are two points.

1) Allow users to register anonymously on regulated stablecoin applications.

2) Facilitate the use of compliant stablecoins to purchase tokenized financial products.

According to disclosed information, mainland Chinese visitors to Hong Kong can use China RealDID to register a wallet and access stablecoins issued by IDA, as well as other token-based financial products, without needing a passport or bank statement, achieving anonymous registration.

Now, everyone is less resistant to compliance regulation, after all, exchanges, institutions, and project parties are actively embracing regulation.

From blockchain serving as the underlying technological support for traditional industries, to Hong Kong promoting compliance and license applications, to #Flare opening registration for mainland tourists to use stablecoins to purchase financial products, everything is gradually advancing.

At the moment Trump’s team successfully wins the election, the meaning of cryptocurrency will be greatly different. If he fulfills his promises, I believe our progress will also accelerate.