Bitcoin reflects a fast changing global financial system landscape

The price of Bitcoin has exceeded $100,000 recently. Several institutional changes behind this are worth noting.

In the past few years, the US standard for cryptocurrency regulation has gradually become an international standard. International organizations, mainly the Bank for International Settlements and the Financial Stability Board, have done a lot of work in the development and cross-border regulation of cryptocurrencies, reached a consensus on the financial stability and financial risks brought by cryptocurrencies, and established risk prevention and control mechanisms.

In the future, asset tokenization based on blockchain technology is expected to become an important trend. The BIS has currently proposed a financial internet model based on blockchain technology, which has been recognized by many countries and regions. The development of the financial internet model will have an important impact on the cryptocurrency market and the global financial infrastructure.