According to online reports, the Bank for International Settlements (BIS) issued an announcement warning that the rapid expansion of stablecoins is bringing new policy challenges to financial regulators. The report pointed out that since 2023, the total value of the stablecoin market has doubled to approximately US$255 billion, and more than 90% is concentrated in two dollar-linked tokens. BIS believes that the growth of stablecoins in circulation and integration with traditional finance may threaten the monetary sovereignty of major markets and require more stringent regulatory review.