BIS's statement this time is very direct, simply putting the risks of USD stablecoins on the table. The focus is not on a specific chain, but on if regulation really moves forward, cross-border circulation of stablecoins, banking pressure, and policy coordination will all be re-priced. For $TRX , this kind of news won't immediately change the narrative, but it will make the market more sensitive to the stablecoin ecosystem, with short-term sentiment leaning a bit more cautious.