Risks and Regulation of Stablecoins: Challenges to Monetary Sovereignty and Financial PolicyWith the development of Crypto Assets and cryptocurrencies, stablecoins have further developed as pricing and trading tools in trading. As tokens of fiat, stablecoins have characteristics of quasi-money, serving as the infrastructure of crypto finance and a bridge between crypto finance and TradFi. Without stablecoins, these two types of finance would develop in isolation, and crypto finance would not have an impact on the real economy, with cryptocurrencies mostly serving as speculative tools, while stablecoins can connect these two markets. Stablecoins, as a bridge, broaden the scope of crypto finance, but they may also push the risks of crypto finance onto the traditional financial system. Conversely, the risks generated by the traditional financial system can also spill over into the crypto finance space.
The application of stablecoins arises from the demand for Crypto Assets trading, but with the introduction of stablecoins, it has begun to enter more into cross-border payments in these physical spaces, and in the future, it may further penetrate retail and B2.
金色财经_·2025-08-19 10:47