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⚡️I just watched a speech by Peng Wensheng from China International Capital Corporation on stablecoins. It was quite objective and basically represents the domestic views and attitudes towards stablecoins.
I also quite agree with this excerpt—
From the perspective of currency demand, although stablecoins offer zero interest, there is still demand for them. This is mainly reflected in four aspects:
1. Crypto Asset Trading
2. Cross-border payment
3. Currency substitution
4. Regulatory arbitrage
Ultimately, the early penetration path of Web3 globally is a history of regulatory arbitrage—it's not pleasant to say, but it is the truth.
Of course, I don't think this is a bad thing. No new system, new finance, or new order is perfect from the start; they always attract attention from the loopholes.
If you're interested, you can check out the full version, which is 22 minutes long: