Group 1 - The core viewpoint of the article highlights the unprecedented surge in stablecoins driven by U.S. political influence, particularly the regulatory framework established during the Trump administration, which has facilitated both domestic and global stablecoin development [1] - Stablecoins are defined as cryptocurrencies pegged to the value of fiat currencies, with USDT being the largest example, where Tether must hold an equivalent dollar or low-risk asset for each USDT issued, enhancing cross-border payment efficiency [1][3] - The emergence of stablecoins is reshaping the international monetary landscape, potentially reinforcing the U.S. dollar's dominance in global payments and investments, aligning with U.S. strategic goals [3] Group 2 - The distinction between the proposed Chinese yuan stablecoin and the already implemented digital yuan is emphasized, with the former being issued by qualified commercial entities and the latter by the People's Bank of China, highlighting different credit foundations [3] - The internationalization of currency relies on market acceptance rather than just technological innovation, necessitating trust in the yuan's value through reforms in foreign exchange controls and financial market openness [5] - The current global stablecoin market is dominated by U.S. dollar stablecoins like USDT and USDC, while other currencies such as the euro and yen are also developing their stablecoins to challenge the dollar's monopoly [5] Group 3 - China is advised to strategically enter the stablecoin market by piloting in offshore markets like Hong Kong, leveraging its financial infrastructure and regulatory experience [7] - Japan has initiated legislative procedures for a yen stablecoin, and the EU is also developing regulatory frameworks, indicating a global competition for establishing monetary rules in the digital age [9] - For China to diversify the international monetary system, it must balance regulation and innovation while addressing the advantages of existing dollar stablecoins and continuing financial market reforms [9]
外媒疯传,中国考虑推出人民币稳定币?是为了和美元一争高低?
Sou Hu Cai Jing·2025-08-21 20:08