Tian Jietang, Development Research Center of the State Council: At present, the general regulatory direction is to promote the "out of reality" of the token.

In view of the various risks of blockchain technology and the digital economy, how to better implement supervision and respond to risks has become an urgent issue. In this regard, Tian Jietang, deputy director of the Innovation Development Research Department of the Development Research Center of the State Council, believes that the current general regulatory direction is to promote the "de-confidence into reality" of the token and adhere to prudence and tolerance in the virtual economy. At the legal level, the economic development of the token can be incorporated into the existing legal framework, and even the law can be modified; the second is to add legal provisions to smart contracts based on a chain of governance.