#加密立法新纪元 $MERL Shanghai State-owned Assets Conspiracy to "Dismantle the Wall"! Plan to Release the "Shanghai Stablecoin Pilot Management Measures" Within the Year?

The ice-breaking signal for a policy shift has been lit, and a quiet digital financial revolution is brewing along the Huangpu River.

On July 10, 2025, the Party Committee of the Shanghai State-owned Assets Supervision and Administration Commission held what seemed to be an ordinary study meeting. However, when the topics were announced, the market instantly sensed an unusual atmosphere—cryptocurrency and stablecoins became the special study topics of the Shanghai state-owned assets system for the first time.

At the meeting, Party Secretary He Qing explicitly stated the need to "strengthen the research and exploration of digital currency (including stablecoins)" and emphasized the importance of "integrating data with production and exploring the application of blockchain technology in cross-border trade, supply chain finance, asset digitization, and other fields." In this statement, "digital currency" replaced the previously sensitive term "cryptocurrency," indicating a subtle shift in policy direction.