Former Vice Governor of the People's Bank of China, Li Bo: It is necessary to clarify whether stablecoins belong to currency or financial assets

According to a report by Golden Finance, Li Bo, Vice President of the International Monetary Fund (IMF) and former Deputy Governor of the People's Bank of China, stated during the Summer Davos today that a large number of digital currency or stablecoin regulatory experiments and explorations are currently underway worldwide. Whether in the United States, Europe, or Asia, many countries are working hard to establish appropriate legal and regulatory frameworks for stablecoins, but there are still many issues to be resolved. In this process, two core issues are particularly crucial: firstly, whether stablecoins belong to currencies or financial assets? Because the corresponding legal and regulatory requirements for the two are completely different; Secondly, if stablecoins are recognized as currency, which level of currency does it belong to? Is it broad money M2 or cash M0? Different currency categories require different regulatory systems, including anti money laundering mechanisms.