At present,blockchain technology has been widely applied in many fields,but there are a series of risks in the process of multi-industrial applications,which brings great challenges to regulators.The first challenge is the "static risk" caused by institutional defects,which specifically includes the absence and lag of legal entities and regulatory technologies,the great difficulty in applying the existing laws and institutional norms,the unclearness of both the technical standards and the subject of legal responsibilities,the decentralized form of regulation caused by distributed sharing,and the irrationality of a removable type of law enforcement and one-size-fits-all prohibition,etc.The second challenge is the the "dynamic risk" caused by technical defects,which specifically includes its own technical vulnerabilities and external attacks on blockchain technology.Basically,countermeasures from the perspective of policy and law have been proposed to promote the legalization of its business environment,supervision and legislation,and processing risk.