#稳定币监管风暴 With the cryptocurrency market growing rapidly, stablecoins have become one of its core pillars. However, recently, a "stablecoin regulatory storm" has erupted globally. Major economies such as the United States Treasury, the European Union, and Japan have introduced new regulations to strengthen scrutiny of mainstream stablecoins like USDT and USDC, requiring issuers to disclose reserve structures, undergo audits, and hold financial licenses. This is not only a response to speculative risks but also reflects the traditional financial system's response to and regulation of emerging digital assets. In China, although stablecoins have not been fully opened, the promotion of the digital renminbi indicates another path for regulation. The future of stablecoins is no longer a utopia of "free flight," but is gradually moving towards a new stage of compliance and institutionalization. This regulatory storm is both a challenge and an opportunity for the restructuring of the global financial landscape.