A piece of news that is completely opposite to the recent crackdown on cryptocurrency in the country is that

Binance has received full authorization from the Financial Services Regulatory Authority of Abu Dhabi Global Market.

This license makes Binance the first global exchange to meet traditional financial standards.

In recent years, certain village and town banks in the country have faced crises, along with the recent crisis in the real estate sector and the one in Zhejiang.

As the country's "threefold risks" (banks, real estate, shadow banking) continue to be exposed,

and with the decreasing attractiveness of RMB assets, the trend of capital outflow will shift from "speculative outflow" to "long-term allocation outflow."

Therefore, the attitude towards "stablecoins" that can facilitate capital transfer is naturally self-evident.

So the question arises: should we first address the internal crisis of corruption and trust, or should we first tackle the external sweet-coated bullets🤡?