Industry Expert: Stablecoins Are Not Classified as 'Contraband' in the Criminal Law Sense 21st Century Business Herald published an article titled 'Stablecoins Included in Virtual Currency Regulation Framework, Covering Three Core Considerations,' in which Zhao Binghao, Dean of the Fintech and Legal Research Institute at China University of Political Science and Law, pointed out that the central bank has explicitly categorized stablecoins as virtual currencies. This classification does not mean that stablecoins are considered 'contraband' in the criminal law sense but rather brings operational, intermediary, and settlement activities surrounding stablecoins into the scope of regulation. This classification is a key measure to block 'currency substitution' and cross-border arbitrage channels at the source. The current crackdown on illegal financial activities involving virtual currencies is having a multidimensional impact on the domestic stablecoin ecosystem, and its development space will continue to shrink—a trend that has become a consensus within the industry. https://www.(techflowpost.com)/newsletter/detail_107125.html