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Recently, the cryptocurrency sphere has been bustling. The reason behind this is clear: On December 26, 2024, the People's Bank of China released its latest (China Financial Stability Report (2024)), which not only mentioned the ongoing trend of global cryptocurrency regulatory upgrades but also emphasized Hong Kong's innovative regulatory measures. What signal does this release? In fact, Hong Kong is gradually becoming a 'testing ground' for mainland China's exploration of cryptocurrency compliance, attracting global attention!

Why is cryptocurrency regulation urgent?
Despite the high popularity of cryptocurrencies, the hidden risks are indeed considerable. Issues such as price volatility, money laundering activities, and cross-border arbitrage have made regulatory bodies quite troubled. The report clearly identifies three major key hazards: