#稳定币监管与发展# The latest FATF report reveals the current state and trends of global encryption regulation. Data shows that only 1 jurisdiction is fully compliant, 29% are basically compliant, reflecting slow but steady regulatory progress. It is worth following that stablecoins are becoming the new favorite for money laundering, especially the use of USDT on the Tron network. The record theft of $1.46 billion by North Korean hackers further highlights the urgency of security issues. From a regulatory perspective, future focus may be on stablecoin regulation, offshore VASPs, and the DeFi sector. For industry participants, proactively laying out compliance systems and establishing dynamic risk management mechanisms will become a competitive advantage. At the same time, it is also necessary to strengthen cybersecurity protection and deploy real-time monitoring systems to address potential threats.