🚨 Recent government and international agencies' support and involvement in cryptocurrencies have further propelled the market's legitimization and development. Here are some notable examples: 🚨

1. The United States is preparing to achieve clarity in cryptocurrency regulation.

2024 may become a turning point for the U.S. cryptocurrency industry, with the judiciary and executive branches expected to make a series of significant decisions, including rulings related to cases like Coinbase and the resolution of the long-term legal dispute between Ripple and the SEC. Additionally, the IRS and the Treasury may introduce new rules targeting DeFi and cryptocurrency mixers, further impacting market development.

2. The International Monetary Fund (IMF) supports global regulatory cooperation.

The IMF is collaborating with the Financial Stability Board (FSB) to develop a global regulatory framework for crypto asset activities, with particular attention to the impact of stablecoins in emerging markets. The IMF emphasizes that the widespread use of stablecoins could pose challenges to monetary policy, capital flow management, and macroeconomic stability, necessitating a robust regulatory system.

3. European Union digital euro trials.

The European Central Bank is actively advancing the digital euro initiative and plans to determine by the end of 2024 whether to officially launch it. This move aims to enhance the efficiency of digital payment systems while maintaining financial stability in the EU, demonstrating the government's high level of attention to central bank digital currencies (CBDCs).

4. Hong Kong and Saudi Arabia collaborate to advance blockchain applications.

The Hong Kong Monetary Authority is collaborating with Saudi Arabia to explore the application of blockchain technology in trade finance and logistics. This not only drives innovation in cross-border payments but also provides more opportunities for the practical implementation of cryptocurrency technology.

These developments indicate that cryptocurrencies are gradually transitioning from niche markets to the mainstream, receiving more recognition and support from governments and international agencies. This trend will further enhance investor confidence, attracting more capital and talent into the market.

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