Core Viewpoint - The recent legislative developments in the U.S. and Hong Kong regarding stablecoins, along with Circle's listing on the NYSE, have reignited discussions on the impact and implications of stablecoins in both traditional and Web3 finance [1][2]. Group 1: Stablecoin Types and Characteristics - Stablecoins can be categorized into fiat-collateralized, crypto-collateralized, commodity-collateralized, and algorithmic stablecoins, with fiat-collateralized stablecoins being the focus of regulatory scrutiny due to their significant issuance and connection to real-world assets [2][3]. - Fiat-collateralized stablecoins sacrifice decentralization and accept traditional trust risks, integrating into the sovereign credit system [3]. Group 2: Global Regulatory Trends - Since the introduction of the EU's MiCA, global regulators have prioritized fiat-collateralized stablecoins, focusing on non-bank payment institutions' regulatory frameworks, including AML, KYC, and asset segregation [4]. - The regulatory approach aims to enhance consumer protection and compliance within financial market infrastructures, especially given the increasing influence of stablecoins in cross-border payments and DeFi [4][5]. Group 3: Challenges and Opportunities - Despite the opportunities presented by stablecoin legislation, challenges remain, such as the inability to effectively manage market volatility and liquidity shocks, which could exacerbate instability in the crypto space [6][7]. - The push for a "chain-based Bretton Woods system" faces sustainability issues, as the inherent conflict between providing liquidity and maintaining value stability complicates the viability of stablecoins [6][7]. Group 4: China's Strategic Focus - China should prioritize the exploration of a fiat-collateralized stablecoin, particularly a renminbi stablecoin, to establish a presence in the global market, with a focus on high liquidity and low-risk assets [9][10]. - Regulatory frameworks should be developed for both onshore and offshore issuance of renminbi stablecoins, ensuring compliance with domestic and international regulations while promoting the internationalization of the renminbi [9][10].

还记得当年荷兰人疯抢郁金香的场景吗？现在WkeyDAO这玩意儿就跟那会儿一个德行。震哥观察这项目半年多了，从90刀跌到30刀就用了五个月，眼瞅着 就要奔着归零去了。可邪门的是，居然还有60万韭菜往里冲，真是太阳底下没新鲜事。 一、WkeyDAO的三阶段套路 这帮搞WkeyDAO的玩得可太花了，咱们来捋捋他们的骚操作： 第一阶段（2024年底）：装逼期 整一堆"算法稳定币""DePIN物联网"这种高大上名词，再搞个699美金的区块链手机当幌子。震哥当时一看就笑了，这不就是给旧酒换新瓶嘛，专骗那些不 懂装懂的小白。 第二阶段（2025年初）：拉人头期 搞了个12级传销体系，拉一个人头抽15%。最骚的是他们用机器人刷数据，硬是把日交易量造假到800多万。这操作就跟菜市场给烂苹果贴有机标签一个套 路，专门忽悠那些想暴富的冤大头。 吹什么"每12小时复利0.2%-0.83%"，算下来年化608%，意味着项目规模每4个半月就得翻一倍。全球加密货币总市值才2.3万亿，它这是要上天？地球经济都 撑不住这种增长。 2. 硬件就是幌子，代币才是真货 卖699美元的"Web3手机"，成本不到200，所谓的"加速挖矿"功能纯属扯淡。 ...