Today has been really busy, I've been dealing with various matters and haven't had much time to calm down and think.
I just looked at the new stablecoin policy in #Macau and suddenly had some insights. This policy might be the key breakthrough for the internationalization of the Renminbi. It provides a compliant path for cross-border settlement in the Greater Bay Area through "sandbox regulation + licensing access," especially with the launch of offshore Renminbi stablecoins, which really have great potential.
Moreover, the tokenization of RWA assets can bypass existing foreign exchange controls, making the flow of Renminbi more efficient. All of this makes me think that Macau is not just for local finance, but is paving the way for the entire financial system of the Greater Bay Area.
From a technical perspective, compliant oracles and cross-chain technology are the unavoidable infrastructure moving forward, and zero-knowledge proofs, or #ZK, will be key among them. However, I am a bit concerned that if Macau's stablecoin directly connects with the digital Renminbi without sufficient regulation to prevent arbitrage and capital outflow, the risks could be significant, especially as fraud issues are becoming increasingly serious.
Overall, I believe that Macau's initiative not only promotes the internationalization of the Renminbi but will also bring strong momentum for the compliant application of blockchain technology, especially for compliant tech companies and licensed exchanges, which will gain tremendous opportunities in this process....
#Web3News #BTCUSDT #Macao
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