The CEO of New Fire Technology recently shared an interesting viewpoint - the mainland's attitude towards Crypto Assets has undergone a rare turnaround.

He reflected on the operations of 2017, when there were rumors in the market about issuing licenses, but soon after, everything was halted due to pyramid schemes and fraud. Behind this shift, there are actually two key factors: first, the domestic situation is indeed complex, and there are too many dimensions for regulators to consider; second, the general public's understanding of this field is uneven, making them easy targets for being taken advantage of.

It is worth noting that he specifically mentioned Hong Kong's positioning. While the mainland is tightening regulations, Hong Kong is steadily advancing compliance. This differentiated strategy of "one country, two systems" in encryption regulation may bring new changes to the industry.

To put it bluntly, the direction of policies has never been set in stone; it really depends on how the actual situation develops.