According to WuShuo, Cristiano Ventricelli, a senior analyst at Moody's, said that although the US Senate has passed the draft stablecoin legislation, the media's claim that "thousands of stablecoins are about to emerge" is not realistic. Ventricelli pointed out that banks and retailers will face multiple obstacles such as high costs, regulatory audits, system compatibility and liquidity when issuing stablecoins. In comparison, existing tools such as tokenized bank deposits may be more feasible, while retailers launching closed tokens are more likely to cause payment fragmentation and may not solve practical problems.