#稳定币市场 Seeing the news about JPMorgan freezing a stablecoin startup account, I feel quite complicated. On one hand, this reflects the cautious attitude of traditional financial institutions towards crypto assets—after all, compliance risks are real, especially when dealing with high-risk regions. But on the other hand, this incident also highlights why Web3 is so important.

Imagine, currently, the lifeline of stablecoins is still in the hands of traditional banks. If an account is frozen, the entire operation could come to a halt. Isn’t this the core issue that decentralization aims to solve? Truly stablecoins should be blockchain-native, censorship-resistant, and not rely on the goodwill of any financial institution.

Future stablecoins should be more based on algorithmic mechanisms or sufficient on-chain asset collateral, rather than dependence on the banking system. Only then can they truly provide financial freedom to users worldwide, especially in countries and regions with weak financial infrastructure.

The immediate compliance pressures are indeed painful, but they are also pushing the entire industry to think more rationally and innovatively about the future form of stablecoins. This is a necessary process for decentralized finance to mature.