【Market Snapshot】On the evening of January 11th, Beijing time, major cryptocurrencies showed mixed performances. Bitcoin was at $90,923.25, up slightly by 0.52% in 24 hours; Ethereum was at $3,112.66, slightly weak with a decrease of 0.79%; Binance Coin was at $911.93, up by 0.18%; Dogecoin maintained a moderate rise, at $0.1404, up 0.54%; Solana performed relatively well, at $137.84, with a 24-hour increase of 1.31%.

【Policy Observation】The attitude towards the crypto industry in the Asia-Pacific region is adjusting. A senior official from a regional financial department recently stated that virtual currencies represent a direction of financial innovation and should be embraced but not rushed blindly. He pointed out that while the privacy features of blockchain are innovative, they may also lead to vulnerabilities in investor protection, difficulties in anti-money laundering, and risks to financial stability. Therefore, it is necessary to establish an appropriate regulatory framework, and caution should be exercised when promoting virtual currency investments to the general public, with increased education and publicity.

Interestingly, community voices have proposed a new idea—launching stablecoins pegged to gold. Supporters believe that gold has historically been regarded as a true store of value, and in the current environment of high economic uncertainty, such a design could have unique appeal. Relevant officials stated that they will further study this suggestion. This reflects that the exploration of integrating crypto assets with traditional assets is ongoing.