According to Bloomberg News, Xuan Changneng, deputy governor of the People's Bank of China, called for strengthening the supervision of digital finance at a panel meeting on "Financial Infrastructure and Financial Services in the Digital Era" at the Boao Forum for Asia Annual Conference 2023, "related to cryptocurrencies." Risks and fraud, including the troubles of two U.S. banks after providing multiple services for cryptocurrencies from deposits to settlements, show that regulators should respect the rules when they innovate regulation.”