#稳定币生态发展 Seeing PwC's move, I have an indescribable feeling in my heart. Over the years, I have seen too many landmarks; the attitude of blue-chip companies towards crypto has always been a barometer. I remember the wave in 2017, when institutions simply looked down on it; in the winter of 2018, they avoided it at all costs. But this time is different.

The message conveyed in Paul Griggs' words is worth pondering—it's not about hype, but the certainty brought by the gradual improvement of regulatory frameworks. The "Genius Act" and the regulatory details for stablecoins, these seemingly dull legal provisions, are actually the real reasons that give institutions the confidence to bet. The evolution of the stablecoin ecosystem over the past few years, from USDT dominance to the emergence of diverse players like USDC, PYUSD, and now moving towards standardization, is like a slow but steady self-correction.

Thinking back, stablecoins were once most criticized for being "unstaked" and "risky." But it was precisely these doubts and regulatory pressures that forced the entire ecosystem to change. Now, the wave of asset tokenization has already begun, and as the underlying infrastructure of this ecosystem, the importance of stablecoins will only become more prominent. PwC's involvement, to some extent, marks the arrival of a critical point—institutional confidence is moving from nascent to rooted.

History often verifies laws through repetition. What’s different this time is that the rules have finally been officially codified into law.