$BTC Regulation and Compliance: More than 50 jurisdictions worldwide are advancing cryptocurrency regulatory frameworks, focusing on anti-money laundering (AML), data governance, and investor protection. PwC predicts that by 2025, the improvement of regulatory systems will promote the integration of cryptocurrency with the traditional financial system, such as the European Union's trial of blockchain issuance of government bonds.

2. Web3 Development Direction: Mainland China, while banning cryptocurrency trading, encourages the application of non-coin blockchain technology, focusing on data sovereignty and the implementation of commercial scenarios. Hong Kong is exploring the compliance of virtual assets, allowing Bitcoin and Ethereum as investment proofs, providing high net worth users with new asset allocation channels.