Why have domestic brokers in China been so bold, high-profile, and proactive regarding stablecoins recently? Have they received approval from higher authorities? In the past, they avoided them completely.

CITIC Securities: The positive policy expectations for stablecoins are beneficial for the upward movement of cryptocurrencies, which are also influenced by Trump's policies.

CITIC Securities' research report points out that recent legislative progress on stablecoins has been made in the U.S. and other countries. The report believes that the Trump administration has three objectives in promoting cryptocurrency-related legislation: to help families accumulate wealth and fulfill campaign promises; to promote the expansion of the stablecoin market to alleviate pressure from insufficient demand for U.S. Treasury bonds; and to strengthen the binding relationship between stablecoins and the U.S. dollar, delaying the process of de-dollarization.

Therefore, the process of stabilizing coins is expected to continue. The expansion and development of the stablecoin market will create long-term benefits for the upward movement of cryptocurrencies. However, the acceleration of cryptocurrency's upward trend may need to wait for certainty in Trump's policies. $SOL