The Global Law Research Center recently released a report saying that eight countries and regions including Singapore, Malaysia, Mongolia, etc. are open to cryptocurrency holdings and transactions and have no specific legislation. Seven countries and regions such as Japan, South Korea, and Thailand are improving the relevant Legislation and advocate for dynamic regulation. In this regard, experts from the Asian Development Bank suggest that high-quality crypto asset supervision will help the financial industry to develop innovatively. Supervision should “catch up with fintech” by means such as establishing rules and regulations, enhancing credibility, eliminating bureaucracy, strengthening international cooperation and policy coordination. Speed of innovation. "