[The Industry Believes Clear Definition of Stablecoins Will Help Integrate Them into the Financial Regulatory System] Beijing Business Today published an article pointing out that industry insiders believe that after the People's Bank of China clearly defines stablecoins, they will not be regarded as legal tender or payment instruments but will instead be included in the virtual asset regulatory framework, aligning them with similar assets like Bitcoin and Ethereum. This provides a logical basis for their subsequent inclusion in financial regulatory systems such as anti-money laundering and cross-border capital flows. At the same time, the article highlights the root causes of compliance risks associated with stablecoins, noting that underlying risks and asset quality remain difficult to guarantee, with "blow-up" incidents occurring from time to time.