Express
Director of Shanghai Financial and Development Laboratory: Stablecoins should be used to promote financial service upgrades
Summary: In a recent article, Chief Expert and Director of the Shanghai Financial and Development Laboratory, Zeng Gang, pointed out that the convenience of emerging stablecoins and digital currencies should be fully utilized to promote the upgrade of financial services within a controllable range. This will meet the real needs of society members for efficient, safe, ...
In a recent article, Chief Expert and Director of the Shanghai Financial and Development Laboratory, Zeng Gang, pointed out that the convenience of emerging stablecoins and digital currencies should be fully utilized to promote the upgrade of financial services within a controllable range. This will meet the real needs of society members for efficient, safe, and low-cost payment tools. However, there is a need to be highly vigilant against the potential monopoly of non-bank institutions on payment channels, user data, and business opportunities, effectively preventing the accumulation of systemic financial risks, the formation of information islands, and regulatory arbitrage. Zeng Gang stated that stablecoins, cryptocurrencies, and other new currency tools will continue to penetrate real economic activities, bringing greater convenience and choice to market participants. (Caixin)
Tags:
Link: Director of Shanghai Financial and Development Laboratory: Stablecoins should be used to promote financial service upgrades [Copy]
