According to online reports, according to Caixin.com, at a recent online seminar of China Macroeconomic Forum (CMF), Guan Tao, global chief economist of BOC Securities, said that the US dollar stablecoin is not a legal currency of the United States and lacks the protection of sovereign credit. A "wait-and-see" attitude can be adopted towards stablecoins. There is no need to "myth" or "superstitious" stablecoins. We should maintain the strategic determination to develop digital currencies and promote the internationalization of the RMB. Guan Tao believes that the full custody of customer funds paid by third parties such as WeChat and Alipay is held in the People's Bank of China, which is similar to a 1:1 stable currency issuance. In reality, RMB is still used for payment settlement.