On July 18th, Cai Kailong, a senior researcher at the Institute of Financial Science and Technology of Renmin University of China and former chief strategy officer of the China National Petroleum Corporation, published a column entitled "Advancing with the Times: Supervision of Digital Money." The article pointed out that the supervision of digital currency from various countries can be summarized. At present, the global supervision of digital currency mainly focuses on the following challenges: First, how to prevent the monetary function of digital currency from becoming a tool for money laundering and crime. Second, for the securities properties of digital currencies, how to regulate their issuance, trading, and custody to ensure the rights and interests of investors. Third, global collaboration prevents regulatory arbitrage. The fourth is whether to launch a sovereign digital currency and how to launch it. The digital currency is like a dislocated wild horse, running all the way. Supervision is like a western cowboy with a set of horses, and is chasing after the digital horse. Regulation determines the future direction of digital currency. Digital currency can only have a future if it is compliant.