Every time Bitcoin approaches its historical high, the market not only smells the scent of wealth but also the stench of blood.

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Policy Dividend: Hong Kong and Mainland China Team Up, Blockchain 'Shifts from Virtual to Real' Welcomes Explosive Critical Point

**Seven Major Departments in China Join Forces, Blockchain Upgraded to 'Financial Infrastructure'**

On August 11, the People's Bank of China, along with the Ministry of Industry and Information Technology, the National Development and Reform Commission, and four other ministries issued the 'Guiding Opinions on Financial Support for New Industrialization', explicitly elevating blockchain and artificial intelligence to 'financial infrastructure' for the first time, requiring financial institutions to use them to serve the real economy, especially to solve the financing difficulties of small and medium-sized enterprises.