#稳定币监管风暴

The Shanghai court recently exposed a case of an illegal stablecoin network amounting to 6.5 billion dollars. This not only highlights China's high-pressure crackdown on illegal cryptocurrency circulation and money laundering issues, but also reminds us once again: although stablecoins are the "infrastructure" for on-chain capital flow, compliance issues cannot be ignored.

The essence of stablecoins is "on-chain dollars" or other fiat currency-mapped assets, which can quickly complete cross-border settlements and avoid the cumbersome processes of the traditional financial system. However, they are also easily exploited for illegal purposes, especially in scenarios without real-name identification and KYC.

China's strong actions this time may provide a new model for global regulation. After all, in a time when there is no consensus on global stablecoin regulation, China's judicial practices are equivalent to being a "pioneer outside the regulatory sandbox."

✅ For crypto innovators, how to design "technical development" alongside a "compliance framework" will be the core of survival and expansion in the future.

❗ If one only seeks speed and user growth while ignoring regulatory red lines, it is very likely to follow the old path of this 6.5 billion case.

Future innovations in stablecoins may not only need to ensure technical security and transparent exchanges but also need to incorporate audit reports, user real-name verification, wallet monitoring, and other modules. In other words, "innovation is not about seeking breakthroughs outside of compliance, but about creating value within regulation."