I just saw that the mayor of Vancouver wants to push forward with a Bitcoin investment proposal, but it was blocked by municipal and provincial laws. It seems that many cities are still testing the waters with cryptocurrency-related policies, but the legal framework is definitely a big hurdle. I heard the proposal involves some disclosure and regulatory issues; policymaking in the cryptocurrency space is really not simple. There are probably some institutions pushing behind the scenes, like investment firms that are also paying attention to cryptocurrency application scenarios. However, from a legal perspective, it looks like the government remains quite cautious about cryptocurrencies. What do you think—are these local government-level cryptocurrency initiatives always easily restricted by higher-level legal frameworks?

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