According to ChainCatcher news, Wu Shuo reported that Huang Yiping, a chair professor of finance and economics at the National School of Development at Peking University and a former member of the central bank's monetary policy committee, pointed out:When it comes to the stance on cryptocurrencies, several factors need to be considered. First, cryptocurrencies like Bitcoin are not strictly currencies but more like digital assets, due to their lack of intrinsic value. More importantly, research has shown that about a quarter of Bitcoin account holders and half of the trading activities are related to illegal transactions.Secondly, the regulatory attitude towards cryptocurrencies and digital assets depends on the maturity of the financial system and regulatory framework in the respective country. It is well known that the Chinese government currently prohibits cryptocurrency trading in China. The main reason is that our country still faces significant challenges in anti-money laundering. In addition, our country retains many capital account control measures, and if digital assets like cryptocurrencies could be freely traded, the problems arising would far outweigh the benefits.Finally, long-term trends need to be fully considered. Prohibiting cryptocurrencies may be practical in the short term, but whether it is sustainable in the long term deserves in-depth analysis. Some new digital technologies brought by cryptocurrencies are very valuable to the formal financial system, including tokenization, distributed ledgers, blockchain technology, and so on. If cryptocurrency trading and related activities are prohibited in the long term, it may lead to missed opportunities for important developments in digital technology, and the ban may not necessarily be effective in the long run.Regarding how to regulate cryptocurrencies, especially for a developing country, there is still no particularly good approach that can ensure stability while being effective, but ultimately, it may still be necessary to find an effective way to handle it. (Source link)