#稳定币发展与监管 Analyzing this policy orientation, it can be seen that China places great importance on the potential risks that stablecoins pose to the financial system and national security. USD stablecoins have already dominated the global market, making the development of RMB stablecoins less significant. More importantly, stablecoins could be used for illegal activities such as money laundering and fraud, posing challenges to regulation. Considering China's leading position in mobile payments and digital RMB, it is more prudent to stick to the current approach. In the future, focus should be on innovative applications of digital RMB, while strengthening regulation of virtual currency transactions, promoting the development of the digital economy under the premise of ensuring financial security. This policy direction reflects cautious and strategic considerations, and its long-term impact warrants in-depth study.