#稳定币监管风暴 In the context of the risks highlighted in traditional monetary systems, profound changes in global order, and accelerated iterations of new technologies, the structure of the international monetary system urgently needs to be re-examined. As a bridge extending from fiat currency to cryptocurrency, stablecoins possess dual characteristics of blockchain cryptocurrencies and fiat currencies, creating diverse application scenarios in areas such as cryptocurrency trading, value storage, and DeFi. Its development is reflected not only in its driving role in the upstream and downstream of the industrial ecosystem but also in its profound impact on the international monetary system, global payment networks, and financial ecological patterns. Currently, countries are fiercely competing in this field, with the U.S. policy shift having a significant impact on global markets, while China has chosen to respond with a policy path of piloting in Hong Kong and the coordinated development of digital renminbi. $USD1