I have a deep understanding of what Uncle Cat said. We also discussed this issue in the Space of stablecoins last time, because the essence of stablecoins is to bypass the supervision of "foreign exchange controls", and one of the biggest controls of foreign exchange control countries is to prevent "capital flight", followed by the role of stabilizing the domestic exchange rate. The regulation of cryptocurrencies is already very complex, and it is difficult to control holdings without obtaining control from the trading source, which is why there is a one size fits all approach.