The new regulations on stablecoins are quite strict! Implementing real-name systems and strengthening supervision, amounts over 10 million not only require bank approval but also incur a 20% tax.

Currently, the global focus on stablecoins is intense, with the U.S. trying to tie stablecoins to the dollar through the 'Genius Act' to solidify the dollar's position. Hong Kong, China has also introduced the 'Stablecoin Regulation Draft.' Stablecoins are different from Bitcoin; Bitcoin's price fluctuates wildly, while stablecoins are pegged to the dollar, gold, and other assets, showing less price volatility. They can be used as currency in the crypto world, with USDT holding a 60% market share and maintaining a 1 USDT = 1 dollar exchange rate. This new regulation might standardize the market, but it brings considerable pressure for some large capital players. #BTC #ETH #PiJS #pi #香港稳定币条例