Core Viewpoint - The central argument is that the recent actions by the central bank against stablecoins are not merely routine measures but a proactive strategy to prevent the outflow of Chinese capital to the U.S. through these digital assets, which are seen as a threat to financial stability [2][20][32]. Group 1: Characteristics of Stablecoins - Stablecoins are perceived as tools that bypass the Chinese financial system, functioning as a shadow dollar system that avoids regulatory oversight [5][11]. - Key features of stablecoins include their direct peg to the U.S. dollar, rapid transaction speeds, anonymity, and the ability to facilitate cross-border transactions without institutional oversight [7][9]. - The use of stablecoins allows individuals to transfer funds abroad without engaging with official financial institutions, posing a significant risk to the Chinese financial system [11][20]. Group 2: U.S. Perspective on Stablecoins - The U.S. views stablecoins as a means to reinforce the dominance of the dollar globally, allowing for more flexible and discreet transactions that do not rely on traditional banking systems [13][15]. - The proliferation of stablecoins enables the U.S. to maintain its financial hegemony, as more countries using stablecoins increases their reliance on the dollar [17]. - Stablecoins serve as a rapid conduit for capital to flow into the U.S. market, especially during financial instability in other countries, circumventing local capital controls [18][20]. Group 3: Regulatory Response in China - The central bank's recent shift from risk warnings to strict regulations reflects a recognition of the rising illegal activities associated with stablecoins, including money laundering and fraud [21][24]. - There has been a notable increase in the use of stablecoins for cross-border transactions, prompting concerns about their role in facilitating capital flight [24][27]. - The decision to blacklist stablecoins is framed as a necessary measure to protect financial sovereignty and prevent external forces from undermining the Chinese financial system [29][31].
美国试图收割中国资金,我国提前出手堵死漏洞,稳定币直接被拉黑
Sou Hu Cai Jing·2025-12-01 19:43