The new regulations on stablecoin supervision are quite strict! Real-name registration is being implemented along with enhanced oversight. For amounts over 10 million, not only is bank approval required, but a 20% tax will also be levied.

The global attention on stablecoins is growing. The United States aims to tie stablecoins to the dollar through the "Genius Act" to solidify the dollar's position. Hong Kong has also introduced the "Stablecoin Regulation Draft." Stablecoins are different from Bitcoin; while Bitcoin's price fluctuates like a roller coaster, stablecoins are pegged to the dollar, gold, and other assets, resulting in smaller price fluctuations. They can be used as money in the crypto world, with USDT holding a 60% market share and maintaining an exchange rate of 1 USDT = 1 dollar. This new regulation may help standardize the market, but it poses significant pressure for some large capital players.