#稳定币监管风暴 China's regulatory authorities have recently taken action again to rectify illegal activities in the cryptocurrency sector. The Shanghai court publicly disclosed a case involving an illegal stablecoin trading network with an amount involved as high as $6.5 billion, which fully demonstrates our country's firm determination to prevent financial risks and combat illegal activities such as cross-border money laundering. As the penetration of stablecoins in the international financial market continues to increase, their potential regulatory loopholes and compliance risks are becoming increasingly apparent. This thunderous action by Chinese law enforcement not only effectively deters illegal financial activities within the country but also provides important references for global cryptocurrency regulation, potentially promoting more consensus in the international community regarding compliance operation standards for stablecoins. This case once again indicates that China maintains a high-pressure stance in safeguarding financial security and preventing systemic risks.