#加密货币监管政策# Reviewing the development history of Crypto Assets over the past few decades, regulatory policies have always been a thorny issue. Now seeing South Korean internet giant Kakao establish a special task force for stablecoin, it inevitably reminds people of the situation when Facebook, now Meta, launched the Libra project in 2019. At that time, the strong opposition from regulators around the world ultimately led to the project's failure. However, now that a large company like Kakao is getting involved again, it seems to indicate that the regulatory environment may have eased. Nevertheless, stablecoins remain a sensitive topic, especially after the collapse of Terra/LUNA last year. Whether Kakao can find a balance between regulation and innovation is worth our close attention. This could become an important milestone for the development of stablecoins in the Asia region. From historical experience, the key to success lies in maintaining good communication with regulators while ensuring the safety and transparency of products. Let us wait and see Kakao's performance.