Stablecoins serve as the settlement cornerstone of the crypto world, with an annual trading volume exceeding $9 trillion (even excluding bot trading). However, beneath the gloss lies a turbulent undercurrent; data shows that as much as 60% of illegal on-chain transaction volume is conducted through stablecoins. This reveals its double-edged nature: on one hand, it provides a seamless bridge between traditional finance and the crypto world, greatly enhancing capital efficiency; on the other hand, its anonymous and cross-border features also make it a 'perfect vehicle' for illegal funds. How to strike a balance between the two is a long-term challenge faced by regulators and the industry together.#稳定币热潮 #稳定币 #稳定币交易数据 #稳定币监管