⚡ I just watched a speech by Peng Wensheng from CICC on stablecoins, which was quite objective and basically represented China's views and attitudes towards stablecoins. I also quite agree with this part of the excerpt—— From the perspective of currency demand, although stablecoins have zero interest payments, their demand still exists. This is mainly reflected in four aspects: 1. Cryptocurrency asset trading 2. Cross border payments 3. Currency substitution 4. Regulatory arbitrage The last point is the same as what @ 0xsexybaana said today, that a lot of growth does not come from technology itself, but from regulatory loopholes. Ultimately, the early penetration path of Web3 on a global scale is a history of compliance arbitrage - it may not sound pleasant to say, but it is indeed true. Of course, I don't think it's a bad thing either. No new system, new financial order is perfect from the beginning, it always attracts people from loopholes. Those interested can take a look at the full version, which is 22 minutes long: https://(weibo.com)/6881907171/PzJ0d0FTX? refer_flag=1001030103_