Zhou Xiaochuan, former governor of the People's Bank of China, stated at the Boao Forum for Asia that cryptocurrencies and blockchain technology are worth exploring, but the key lies in whether they are suitable for user needs and real-world scenarios. He pointed out that the quality of a payment system does not depend on a single technology or performance, but on its overall adaptability. Zhou Xiaochuan also emphasized that regulators need to continuously strengthen their anti-money laundering and anti-fraud capabilities, noting that while digital currencies offer payment convenience, they are also being used for illegal activities such as telecommunications fraud, and funds can be quickly split and transferred, increasing the difficulty of tracking. He also mentioned that stablecoins may, to some extent, bypass compliance reviews, and the related risks need to be carefully assessed. (Caixin.com)