🚨 Zhou Xiaochuan Warns: China's Financial Stability is Facing the "Stablecoin Shockwave"! 🚨
Former central bank governor Zhou Xiaochuan has rarely spoken out, bluntly stating that stablecoins are not only unhelpful but may also shake the foundations of China's finance. He pointed out in a closed-door meeting:
The so-called "cross-border low fees" of stablecoins are severely exaggerated; China's existing Alipay, WeChat Pay, and digital RMB are already efficient enough;
The large-scale adoption of stablecoins could become a breeding ground for speculation, impact capital controls, and undermine market stability;
Even the regulations in the United States, Singapore, and Hong Kong are not sufficient to prevent potential risks.
However, the global market is accelerating rapidly. The total supply of stablecoins has increased this year from $130 billion to $270 billion, and it is expected to soar to $1.8 trillion by 2028, becoming one of the largest financial asset classes in the crypto space.
On one side is China's prudence and resistance, while on the other side is global expansion and frenzy. Are stablecoins the future of payment revolution, or a “time bomb” buried within the financial system?
👉 In the explosion of the stablecoin market, which side do you stand on?
