Beijing Business Daily: The industry believes that a clear definition of stablecoins will provide a logical prerequisite for inclusion in anti-money laundering and other regulatory systems

The Beijing Business Daily wrote an article "The virtual currency market has once again ushered in a heavy regulatory signal", which pointed out that the industry believes that after the People's Bank of China clearly defines stablecoins, it means that stablecoins are not regarded as legal tender or payment instruments, but are included in the regulatory framework of virtual assets similar to Bitcoin and Ethereum, which provides a logical premise for its subsequent incorporation into the financial regulatory system such as anti-money laundering and cross-border capital flows. In addition, it also reveals the root cause of the compliance risk of stablecoins. "Thunder" situations occur from time to time, and the underlying risks and asset quality are still difficult to guarantee.