📢 Gate Square Exclusive: #WXTM Creative Contest# Is Now Live!
Celebrate CandyDrop Round 59 featuring MinoTari (WXTM) — compete for a 70,000 WXTM prize pool!
🎯 About MinoTari (WXTM)
Tari is a Rust-based blockchain protocol centered around digital assets.
It empowers creators to build new types of digital experiences and narratives.
With Tari, digitally scarce assets—like collectibles or in-game items—unlock new business opportunities for creators.
🎨 Event Period:
Aug 7, 2025, 09:00 – Aug 12, 2025, 16:00 (UTC)
📌 How to Participate:
Post original content on Gate Square related to WXTM or its
The global cryptocurrency market is undergoing significant changes, particularly in the field of stablecoins. The "stablecoin regulatory framework" advocated by Federal Reserve Chairman Powell heralds the arrival of a strong regulatory era, responding directly to the chaos in the stablecoin market in recent years.
The new regulatory rules classify stablecoins into two categories: stablecoins within the banking system are directly regulated by the Federal Reserve, requiring 100% dollar reserves and real-time audits, primarily for corporate cross-border payments; the other category is stablecoins aimed at ordinary users, which will be subject to strict scrutiny by the SEC, prohibiting "air reserves," and user transactions must go through anti-money laundering reviews. This move could lead to traditional financial giants dominating the future stablecoin market.
At the same time, China has adopted a unique "dual city" strategy to respond to changes in the global financial landscape. Hong Kong implemented the "Stablecoin Ordinance" on August 1, requiring issuers to ensure 100% reserves in either US dollars or Hong Kong dollars and to guarantee traceability of transactions. Several well-known companies have applied for relevant licenses and may launch stablecoins linked to the digital yuan in the future.
Shanghai focuses on technological innovation and is testing the application of blockchain technology in the field of cross-border payments. This initiative has significantly reduced transaction fees and notably increased the speed of fund transfers. Meanwhile, local enterprises are exploring the application of this technology in supply chain finance to pave the way for the internationalization of the digital renminbi.
These developments indicate that the global financial system is undergoing a critical transformation period. Tighter regulations and technological innovations are reshaping the stablecoin market landscape, presenting new opportunities and challenges in cross-border payments and the fintech sector. Governments and financial institutions must closely monitor this trend to adapt to the evolving global financial ecosystem.