As an emerging digital asset, stablecoins have garnered widespread attention from global regulatory bodies, financial markets, and academic circles. With the development of blockchain technology and digital currencies, stablecoins, while bringing convenience to the digital economy, also pose a series of legal and regulatory challenges, particularly in terms of monetary policy, financial stability, and consumer protection. This article delves into the complexities and diversities of stablecoin regulation by comparing the regulatory practices and experiences of the United States and the European Union. The U.S. adopts a decentralized, multi-agency dynamic regulatory system, whereas the EU strives to establish a unified and standardized regulatory framework through the MiCA legislation. Facing these challenges, China needs to timely adjust and optimize its regulatory strategies, strengthen categorized regulation, enhance regulatory coordination, and actively participate in international collaboration and the formulation of global regulatory standards. China must fully recognize the long-term nature and complexity of stablecoin regulation and adopt flexible and forward-looking measures to promote financial innovation while ensuring financial stability and protecting consumer rights. By drawing on international experiences and strengthening international cooperation, China can effectively address the challenges and opportunities posed by stablecoins, contributing to the healthy development of global stablecoins.

Wenhao Hu. Experiences and Insights from Foreign Regulation of Stablecoins: Implications for China. International Journal of Frontiers in Sociology (2023), Vol. 5, Issue 16: 125-131. https://doi.org/10.25236/IJFS.2023.051619.

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