I never really understood this issue before. It wasn’t until this year when a friend told me that there are actually many different kinds of 'US dollar cash' abroad that I finally understood why Americans are so supportive of USD stablecoins. Everyone assumes that US dollars are always printed by the US. But in reality, there are lots of 'North Korean dollars' in the market. Yes, literally. US dollars printed by North Korea. You might think this stuff is worthless. But surprisingly, it actually exists and has even started circulating in some places. And this is just one type of what we consider 'fake US dollars.' So, when it comes to USD stablecoins potentially giving rise to fake dollars, the Americans either don’t care or they’re just really experienced at managing it. Of course, the Chinese yuan also has counterfeit notes. But fake yuan is truly worthless fake money. So, if there were ever an offshore RMB stablecoin that operated outside the central bank’s settlement system… Then on-chain, you’d definitely see a lot of 'pseudo-offshore RMB stablecoins' being issued based on the official offshore RMB stablecoin. And because we don’t have similar experience with this… It would definitely impact the existing RMB system. All I can say is… The authorities just want to play it safe.