From the different statements in 2023 and 2024, the attitude of the People's Bank of China towards crypto assets has undergone a significant change. It is highly likely that over the next three years, there will be a shift from a blanket ban to the introduction of clear regulatory measures, including pilot programs in certain cities or the launch of investment products with thresholds.

Figure 1 is from 2023, and Figure 2 is the latest report. $ETH $AR $ARB