TechFlow, on September 5, the Department of Management Sciences of the National Natural Science Foundation of China recently released the application guidelines for the 2025 third phase of emergency management project titled "Research on Risk Governance of Global Stablecoins and Cross-border Collaborative Regulatory Systems." This project focuses on challenges posed by stablecoins to the international monetary system and the study of their risk transmission mechanisms, comprising one overarching topic and five sub-topics covering the structural evolution of stablecoins, intrinsic vulnerabilities, impacts on monetary sovereignty, shocks to financial intermediation systems, and global regulatory frameworks.
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