In the year #稳定币监管风暴 2025, stablecoins faced a global regulatory storm. The U.S. Treasury, the European Union, and Singapore successively introduced strict regulations regarding the issuance, reserve audits, and cross-border circulation of stablecoins, aiming to prevent systemic financial risks. Tether (USDT) and Circle (USDC) are at the forefront, needing to undergo more frequent audits and disclosure requirements. Meanwhile, China has also strengthened monitoring of stablecoins pegged to the yuan to prevent capital outflow. The tightening of regulations has put some small stablecoin projects under pressure to exit the market, but it has also promoted the compliance process, enhancing the credibility of mainstream stablecoins and becoming an important support for global digital payments and asset trading.