According to Wu Shuo, the Guotai Junan International Digital Asset Research Report pointed out that under the background of the United States' promotion of stablecoin compliance, USDT may face the challenge of its market share being eroded by compliant stablecoins. The report believes that USDT's development path as a digital channel tool for the US dollar with a "technical neutrality" strategy may provide replicable experience for non-US stablecoins. In the future, the stablecoin market may present the characteristics of "dual-track parallel" development.