More and more large banks, such as Citigroup and JPMorgan Chase, are actively entering the Crypto Assets field, exploring their own stablecoins and Blockchain-based bank deposits. The CEO of Citigroup stated that researching "token deposits" will have more potential than traditional stablecoins. Furthermore, as new pro-Crypto legislation progresses, the market's attention and understanding of stablecoins are also deepening.

Stablecoins are rapidly developing against the backdrop of improved encryption legislation. Binance needs to respond to regulatory challenges, maintain compliance, strengthen its market position, promote innovation, engage in international cooperation, and enhance user trust to seize market opportunities and maintain a competitive edge.

For the Renminbi stablecoin to achieve internationalization, it needs to make a strong push in four areas: policy support, technological innovation, market promotion, and international cooperation. By clarifying regulations, enhancing technological competitiveness, strengthening market education, and participating in international cooperation, its competitiveness and acceptance in the global market can be improved.

U.S. Congresswoman Marjorie Taylor Greene has explicitly warned about the newly introduced Genius Act, expressing concerns that it would promote a coercive agenda for the central bank digital currency (CBDC) supported by the U.S.
Green said that although it is regarded as a stable regulatory framework, the bill includes features and controls that you would find in a central bank digital currency (CBDC).
"The bill stipulates stable stability and provides for a backdoor central bank digital currency," Green wrote on X.
The "Genius Act" demands legal clarity surrounding the issuance of stablecoins in the United States and their operations. However, Greene and others are concerned that, under the hood, it could effectively enable financial surveillance and control similar to that of a central bank digital currency.
Industry Voice Alert Privacy Risk
In the broader cryptocurrency networks community, Green's criticism has received intense support. Her concerns have not gone unheard.