【Bloomberg: China Requires Local Securities Firms to Stop Promoting Stablecoins to Prevent Market Overheating and Potential Risks】On August 8, Bloomberg reported, citing informed sources, that China has required local securities firms and other institutions to stop publishing research reports related to stablecoins or holding promotional seminars to prevent market overheating and control potential risks. Sources revealed that in late July and early August, some large securities firms and think tanks received guidance from financial regulatory agencies, requiring them to cancel related activities and cease disseminating research content regarding stablecoins. Recently, regulatory agencies in places such as Beijing, Suzhou, and Zhejiang have issued warnings about illegal fundraising risks related to virtual currencies and stablecoins. Stablecoins are typically backed by cash-like assets, issued by private companies, often pegged to the US dollar, and supported by assets such as US Treasury bills. The global supply of stablecoins is expected to reach $3.7 trillion by 2030.