CoinVoice has learned that, according to sources cited by Bloomberg, China has requested local brokerages and other institutions to stop publishing research reports related to stablecoins or holding promotional seminars to prevent the market from overheating and to control potential risks.

Sources revealed that in late July and early August, some large brokerages and think tanks received guidance from financial regulatory agencies, requesting them to cancel related activities and cease the dissemination of research content concerning stablecoins.

Recently, regulatory agencies in Beijing, Suzhou, and Zhejiang have issued warnings regarding illegal fundraising risks related to virtual currencies and stablecoins.

Stablecoins are typically backed by cash-like assets, issued by private companies, and are often pegged to the US dollar, supported by assets such as US short-term treasury bonds. The global supply of stablecoins is expected to reach $3.7 trillion by 2030. [Original link]