TechFlow, July 30 — Zhang Jianhua, director of the Research Center for Financial Development and Regulatory Technology at Tsinghua University's PBC School of Finance, stated that stablecoins are not legal tender, but they cannot simply be regarded as payment instruments. Aside from not being issued by a central bank or having legal status, they have actually acquired many attributes of money. This "quasi-money" nature means their regulation should be far more necessary and stringent than that for ordinary investment products.
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