As of #稳定币监管风暴 , the global stablecoin market is currently facing a regulatory storm. The Bank for International Settlements, the European Central Bank, and the Hong Kong Monetary Authority, among others, have voiced concerns, directly pointing out the risks of money laundering, financial crime, and interference with monetary policy associated with stablecoins. The U.S. 'GENIUS Act' and Hong Kong's 'Stablecoin Regulations' have been rolled out in succession, significantly raising compliance thresholds and reshaping the market landscape.