# Systemic Risk Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Systemic Risk", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Stablecoins at a Crossroads: Clear Regulations Drive Adoption, Systemic Risks Remain

Stablecoins are at a critical juncture, with regulatory clarity driving their rapid evolution from crypto trading tools to mainstream payment and settlement infrastructure. The U.S. GENIUS Act and the EU’s MiCA framework have established federal and regional standards for issuance, reserves, and auditing, accelerating their adoption. Market capitalization has surpassed $300 billion, with USD-pegged stablecoins dominating, though euro and other fiat-backed alternatives are growing. Use cases are expanding significantly, with enterprises adopting stablecoins for cross-border payments, payroll, and treasury management due to their 24/7 availability and low transaction costs. They are increasingly integrated into traditional finance as settlement and custody solutions. However, systemic risks remain. USD-pegged stablecoins face potential de-pegging risks, insufficient reserve transparency, and high centralization, which could trigger liquidity crises. Large holdings of sovereign bonds or fixed-income assets may also impact bond markets and monetary policy. The IMF has warned about financial stability risks and dollarization concerns. For stablecoins to mature into reliable, compliant, and interoperable digital infrastructure—rather than just survive—they require transparent issuance mechanisms, robust regulatory coordination, and effective systemic risk controls.

cointelegraph_中文12/08 11:03

Stablecoins at a Crossroads: Clear Regulations Drive Adoption, Systemic Risks Remain

cointelegraph_中文12/08 11:03

Financial On-Chain Transformation: A Blueprint for the Overhaul of the U.S. Capital Market

The article "Financial On-Chaining: A Blueprint for the Transformation of U.S. Capital Markets" explores the potential systemic overhaul if the U.S. financial system migrates to blockchain technology, as suggested by SEC Chair Paul Atkins. It outlines seven key structural shifts: 1. Market Dynamics: Transition to T+0 settlement, enabling 24/7 trading and real-time regulatory oversight by the SEC, increasing capital velocity but eliminating traditional market buffers. 2. Banking Sector: Banks would operate with near-transparent balance sheets, reducing risks like asset-liability mismatches but potentially accelerating bank runs. Programmable collateral could unlock new financing efficiency. 3. Real Economy: Democratization of assets through fractional ownership and "micro-IPOs" for SMEs, injecting liquidity premium into U.S. assets. 4. Geopolitics: Digital reinforcement of dollar dominance via tokenized Treasuries and money market funds, attracting global capital through efficiency and transparency. 5. Risk Evolution: Systemic risks would shift from human-driven panics to technical failures (e.g., smart contract bugs, oracle manipulation), making crises faster and more technical. 6. Winners and Losers: Infrastructure builders, new asset managers, and hybrid talent would thrive; traditional intermediaries and opaque industries would decline. 7. Realistic Timeline: Full adoption in two years is unlikely due to technical, legal, and political hurdles, but gradual implementation (e.g., in Treasuries, repos) is inevitable as efficiency drives change.

比推2 days ago 08:30

Financial On-Chain Transformation: A Blueprint for the Overhaul of the U.S. Capital Market

比推2 days ago 08:30

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