#以太坊大户持仓变化 Stablecoins are changing the way we handle our money—this is not alarmism🪙

The latest IMF report highlights a paradox: stablecoins could be the key to global financial inclusion, but they also pose systemic risks. From providing financial services to the 1.7 billion unbanked people, to the emerging threat of "replacing national fiat with digital currencies" in developing economies, the dual nature of this financial revolution is becoming evident. Global regulators have already taken urgent action, with critical issues at hand—how do we find a balance between innovation and stability?

**The True Picture Behind the Data**

In 2023, global stablecoin transaction volume surpassed $7 trillion, a staggering figure in itself. But what’s more alarming is that less than 35% of these transactions are covered by regulation. In other words, over 65% of transactions operate in regulatory gray areas🚨.

More specific risk signals come from emerging markets. Twenty-three emerging economies are experiencing a trend of "digital currencies replacing their own currencies"—when local currencies face devaluation pressures, people naturally seek more stable assets. This sounds like market choice, but it has a real impact on monetary sovereignty.

IMF, FSB (Financial Stability Board), and BIS (Bank for International Settlements) are working to establish cross-border regulatory networks, trying to exert control amid this transformation. But speed is an issue—the pace of innovation far outstrips regulatory response.

**How Your Assets Are Affected**

Imagine this: cross-border payments are shortened from 3 days to 3 seconds⚡. It sounds like science fiction, but stablecoins are making this a reality. For users who frequently transfer money internationally, this is revolutionary—eliminating layers of fees and long waits from intermediaries.

More extreme scenarios are playing out in countries with high inflation. As local currencies continue to depreciate, more and more people are storing wealth in $USDT or $USDC instead of holding their own currency. What does this mean? The control of traditional financial systems is quietly eroding through technology. The effectiveness of central banks printing money is weakening, and the intermediary role of traditional banks is shaking.

But this convenience comes with risks. If a major stablecoin’s reserves are insufficient or trust crises occur, it could trigger a chain market collapse. Some stablecoin incidents in 2023 have already served as warnings. Regulators’ biggest headache now is: how to prevent risks without stifling technological progress? This equation currently has no perfect solution.

**What Ordinary People Should Do**

In this era of "tech sprinting and regulatory catching up," our payment habits are quietly changing. More and more people are trying stablecoins for cross-border transfers, using them to hedge against local currency devaluation, or simply attracted by low fees and quick settlements.

But safeguarding your wealth requires understanding the risks. Don’t follow blindly—know what you’re holding, what backs it, and what the regulatory environment is like. Diversification is always a smart choice—it allows you to enjoy the convenience of stablecoins without putting all your eggs in one basket.

Everyone is participating in this financial revolution. Your choices, your opinions, your actions are shaping the future. This is a topic worth deep discussion—how do you view the impact of stablecoins on the global financial system?