{"id":10496,"date":"2025-07-02T12:12:23","date_gmt":"2025-07-02T12:12:23","guid":{"rendered":"https:\/\/cryptozen.asia\/vn\/su-mo-rong-cua-stablecoin-do-la-toan-cau-tai-eu-trong-khi-cac-nha-lap-phap-my-doi-mat-voi-su-phan-doi\/"},"modified":"2025-07-02T12:12:23","modified_gmt":"2025-07-02T12:12:23","slug":"su-mo-rong-cua-stablecoin-do-la-toan-cau-tai-eu-trong-khi-cac-nha-lap-phap-my-doi-mat-voi-su-phan-doi","status":"publish","type":"post","link":"https:\/\/cryptozen.asia\/vn\/su-mo-rong-cua-stablecoin-do-la-toan-cau-tai-eu-trong-khi-cac-nha-lap-phap-my-doi-mat-voi-su-phan-doi\/","title":{"rendered":"S\u1ef1 M\u1edf R\u1ed9ng C\u1ee7a Stablecoin \u0110\u00f4 La To\u00e0n C\u1ea7u T\u1ea1i EU Trong Khi C\u00e1c Nh\u00e0 L\u1eadp Ph\u00e1p M\u1ef9 \u0110\u1ed1i M\u1eb7t V\u1edbi S\u1ef1 Ph\u1ea3n \u0110\u1ed1i"},"content":{"rendered":"

C\u1ea3nh Quan Stablecoin To\u00e0n C\u1ea7u<\/h2>\n

C\u1ea3nh quan stablecoin<\/strong> to\u00e0n c\u1ea7u \u0111ang ph\u00e1t tri\u1ec3n nhanh ch\u00f3ng, v\u1edbi Paxos<\/strong> v\u1eeba ra m\u1eaft token USDG<\/strong> c\u1ee7a m\u00ecnh t\u1ea1i Li\u00ean minh Ch\u00e2u \u00c2u<\/strong>, trong khi c\u00e1c nh\u00e0 l\u1eadp ph\u00e1p M\u1ef9 \u0111ang ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi \u00e1p l\u1ef1c \u0111\u1ec3 c\u1ea3i thi\u1ec7n c\u00e1c khu\u00f4n kh\u1ed5 quy \u0111\u1ecbnh trong n\u01b0\u1edbc. Khi Qu\u1ed1c h\u1ed9i ti\u1ebfn h\u00e0nh xem x\u00e9t c\u00e1c \u0110\u1ea1o lu\u1eadt GENIUS<\/strong> v\u00e0 STABLE<\/strong>, T\u1ed5ng ch\u01b0\u1edfng l\u00fd New York, Letitia James<\/strong>, \u0111\u00e3 k\u00eau g\u1ecdi t\u0103ng c\u01b0\u1eddng gi\u00e1m s\u00e1t \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 ph\u00e1t h\u00e0nh stablecoin, nh\u1ea5n m\u1ea1nh r\u1eb1ng c\u00e1c \u0111\u1ec1 xu\u1ea5t hi\u1ec7n t\u1ea1i c\u00f3 th\u1ec3 kh\u00f4ng \u0111\u1ee7 \u0111\u1ec3 b\u1ea3o v\u1ec7 c\u00f4ng ch\u00fang v\u00e0 h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh r\u1ed9ng l\u1edbn h\u01a1n.<\/p>\n

Ra M\u1eaft USDG T\u1ea1i Li\u00ean Minh Ch\u00e2u \u00c2u<\/h2>\n

Paxos<\/strong> \u0111\u00e3 ch\u00ednh th\u1ee9c ra m\u1eaft stablecoin USDG<\/strong> t\u1ea1i Li\u00ean minh Ch\u00e2u \u00c2u<\/strong>, \u0111\u00e1nh d\u1ea5u m\u1ed9t c\u1ed9t m\u1ed1c quan tr\u1ecdng cho M\u1ea1ng L\u01b0\u1edbi \u0110\u00f4 La To\u00e0n C\u1ea7u (GDN)<\/strong>. Th\u00f4ng b\u00e1o \u0111\u01b0\u1ee3c \u0111\u01b0a ra v\u00e0o th\u1ee9 Ba, nh\u1ea5n m\u1ea1nh r\u1eb1ng stablecoin USDG hi\u1ec7n \u0111\u00e3 ho\u1ea1t \u0111\u1ed9ng tr\u00ean m\u1ed9t lo\u1ea1t c\u00e1c n\u1ec1n t\u1ea3ng c\u00f3 tr\u1ee5 s\u1edf t\u1ea1i EU, bao g\u1ed3m c\u00e1c s\u00e0n giao d\u1ecbch ti\u1ec1n \u0111i\u1ec7n t\u1eed n\u1ed5i b\u1eadt nh\u01b0 Kraken<\/strong> v\u00e0 Gate.io<\/strong>.<\/p>\n

S\u1ef1 ra m\u1eaft c\u1ee7a USDG ph\u00f9 h\u1ee3p v\u1edbi khu\u00f4n kh\u1ed5 quy \u0111\u1ecbnh v\u1ec1 Th\u1ecb Tr\u01b0\u1eddng T\u00e0i S\u1ea3n Ti\u1ec1n \u0110i\u1ec7n T\u1eed (MiCA)<\/strong> c\u1ee7a Li\u00ean minh Ch\u00e2u \u00c2u, m\u1ed9t trong nh\u1eefng quy \u0111\u1ecbnh v\u1ec1 t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 to\u00e0n di\u1ec7n nh\u1ea5t cho \u0111\u1ebfn nay. Paxos cho bi\u1ebft h\u1ecd \u0111\u00e3 thi\u1ebft k\u1ebf USDG \u0111\u1ec3 ho\u00e0n to\u00e0n tu\u00e2n th\u1ee7 c\u00e1c y\u00eau c\u1ea7u v\u1ec1 d\u1ef1 tr\u1eef, minh b\u1ea1ch v\u00e0 ki\u1ec3m to\u00e1n c\u1ee7a MiCA. Vi\u1ec7c ph\u00e1t h\u00e0nh USDG t\u1ea1i Ch\u00e2u \u00c2u \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n th\u00f4ng qua Paxos Issuance Europe OY<\/strong>, m\u1ed9t th\u1ef1c th\u1ec3 \u0111\u01b0\u1ee3c qu\u1ea3n l\u00fd c\u00f3 tr\u1ee5 s\u1edf t\u1ea1i Ph\u1ea7n Lan, d\u01b0\u1edbi s\u1ef1 gi\u00e1m s\u00e1t c\u1ee7a C\u01a1 quan Gi\u00e1m s\u00e1t T\u00e0i ch\u00ednh Ph\u1ea7n Lan (FIN-FSA)<\/strong>.<\/p>\n

Ngo\u00e0i vi\u1ec7c tu\u00e2n th\u1ee7 quy \u0111\u1ecbnh trong EU, Paxos c\u0169ng ho\u1ea1t \u0111\u1ed9ng d\u01b0\u1edbi s\u1ef1 gi\u00e1m s\u00e1t c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Singapore<\/strong>, cho th\u1ea5y m\u1ed9t xu h\u01b0\u1edbng ng\u00e0y c\u00e0ng t\u0103ng v\u1ec1 s\u1ef1 h\u00e0i h\u00f2a quy \u0111\u1ecbnh \u0111a qu\u1ed1c gia trong l\u0129nh v\u1ef1c t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1. Stablecoin n\u00e0y \u0111\u00e3 k\u00fd k\u1ebft h\u1ee3p t\u00e1c v\u1edbi nhi\u1ec1u n\u1ec1n t\u1ea3ng crypto v\u00e0 fintech, bao g\u1ed3m Coinmetro<\/strong>, SwissBorg<\/strong>, Zodia Custody<\/strong>, Orbital<\/strong>, Hercle<\/strong>, CoinsPaid<\/strong>, Bitwyrem<\/strong>, Bitnet<\/strong> v\u00e0 HiFi<\/strong>, b\u00ean c\u1ea1nh c\u00e1c \u0111\u1ed1i t\u00e1c ra m\u1eaft Kraken v\u00e0 Gate.io.<\/p>\n

T\u1ea7m Quan Tr\u1ecdng C\u1ee7a Stablecoin<\/h2>\n
\n

Mark Greenberg, ng\u01b0\u1eddi \u0111\u1ee9ng \u0111\u1ea7u to\u00e0n c\u1ea7u v\u1ec1 ti\u00eau d\u00f9ng t\u1ea1i Kraken, nh\u1ea5n m\u1ea1nh t\u1ea7m quan tr\u1ecdng c\u1ee7a stablecoin nh\u01b0 nh\u1eefng th\u00e0nh ph\u1ea7n c\u01a1 b\u1ea3n c\u1ee7a c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng t\u00e0i ch\u00ednh hi\u1ec7n \u0111\u1ea1i. “Khi stablecoin tr\u1edf th\u00e0nh c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng c\u1ed1t l\u00f5i cho t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u, USDG n\u1ed5i b\u1eadt v\u1edbi t\u00ednh kh\u1ea3 d\u1ee5ng v\u00e0 h\u1ec7 sinh th\u00e1i \u0111ang ph\u00e1t tri\u1ec3n c\u1ee7a n\u00f3,” \u00f4ng n\u00f3i.<\/p>\n<\/blockquote>\n

C\u1ea5u tr\u00fac h\u1ed7 tr\u1ee3 c\u1ee7a USDG bao g\u1ed3m c\u00e1c \u0111\u1ea3m b\u1ea3o \u0111\u1ed5i m\u1ed9t \u0111\u1ed5i m\u1ed9t v\u00e0 m\u1ed9t ph\u1ea7n d\u1ef1 tr\u1eef c\u1ee7a n\u00f3 \u0111\u01b0\u1ee3c gi\u1eef trong c\u00e1c ng\u00e2n h\u00e0ng Ch\u00e2u \u00c2u, \u0111i\u1ec1u n\u00e0y \u0111\u1ea3m b\u1ea3o s\u1ef1 \u1ed5n \u0111\u1ecbnh v\u00e0 s\u1ef1 ph\u00f9 h\u1ee3p quy \u0111\u1ecbnh v\u1edbi c\u00e1c m\u1ec7nh l\u1ec7nh c\u1ee7a MiCA. Paxos duy tr\u00ec danh ti\u1ebfng l\u00e2u d\u00e0i v\u1ec1 s\u1ef1 nghi\u00eam ng\u1eb7t quy \u0111\u1ecbnh, \u0111\u00e3 t\u1eebng ph\u00e1t h\u00e0nh c\u00e1c stablecoin nh\u01b0 USDP<\/strong> v\u00e0 l\u00e0m vi\u1ec7c v\u1edbi c\u00e1c g\u00e3 kh\u1ed5ng l\u1ed3 to\u00e0n c\u1ea7u nh\u01b0 PayPal<\/strong> v\u00e0 Mastercard<\/strong>.<\/p>\n

M\u1ea1ng L\u01b0\u1edbi \u0110\u00f4 La To\u00e0n C\u1ea7u<\/h2>\n

S\u1ef1 ra m\u1eaft t\u1ea1i Ch\u00e2u \u00c2u tr\u00f9ng h\u1ee3p v\u1edbi tham v\u1ecdng r\u1ed9ng l\u1edbn h\u01a1n c\u1ee7a Paxos cho M\u1ea1ng L\u01b0\u1edbi \u0110\u00f4 La To\u00e0n C\u1ea7u (GDN)<\/strong>, m\u1ed9t s\u00e1ng ki\u1ebfn c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng stablecoin li\u00ean ng\u00e0nh nh\u1eb1m \u0111\u01b0a \u0111\u00f4 la k\u1ef9 thu\u1eadt s\u1ed1 v\u00e0o s\u1eed d\u1ee5ng ch\u00ednh th\u1ed1ng. GDN \u0111\u00e3 ra m\u1eaft v\u00e0o cu\u1ed1i n\u0103m 2024 v\u1edbi s\u1ef1 h\u1ee3p t\u00e1c c\u1ee7a Robinhood<\/strong>, Galaxy Digital<\/strong>, Kraken<\/strong> v\u00e0 Paxos<\/strong>. K\u1ec3 t\u1eeb \u0111\u00f3, m\u1ea1ng l\u01b0\u1edbi \u0111\u00e3 m\u1edf r\u1ed9ng \u0111\u1ec3 bao g\u1ed3m h\u01a1n 20 \u0111\u1ed1i t\u00e1c l\u1edbn t\u1eeb c\u1ea3 l\u0129nh v\u1ef1c t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng (TradFi) v\u00e0 fintech.<\/p>\n

S\u1ef1 gia nh\u1eadp g\u1ea7n \u0111\u00e2y c\u1ee7a Mastercard<\/strong> v\u00e0o GDN c\u00e0ng cho th\u1ea5y s\u1ef1 ch\u1ea5p nh\u1eadn ng\u00e0y c\u00e0ng t\u0103ng c\u1ee7a t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 trong h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp. G\u00e3 kh\u1ed5ng l\u1ed3 thanh to\u00e1n n\u00e0y x\u00e1c nh\u1eadn r\u1eb1ng h\u1ecd s\u1ebd h\u1ed7 tr\u1ee3 USDG trong c\u00e1c d\u1ef1 \u00e1n li\u00ean quan \u0111\u1ebfn stablecoin, m\u1edf \u0111\u01b0\u1eddng cho c\u00e1c th\u01b0\u01a1ng nh\u00e2n v\u00e0 t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u t\u00edch h\u1ee3p c\u00e1c giao d\u1ecbch stablecoin v\u00e0o quy tr\u00ecnh l\u00e0m vi\u1ec7c hi\u1ec7n c\u00f3.<\/p>\n

Th\u1ecb Tr\u01b0\u1eddng Stablecoin M\u1edf R\u1ed9ng<\/h2>\n

S\u1ef1 ra m\u1eaft c\u1ee7a USDG di\u1ec5n ra trong b\u1ed1i c\u1ea3nh b\u00f9ng n\u1ed5 th\u1ecb tr\u01b0\u1eddng r\u1ed9ng l\u1edbn h\u01a1n cho c\u00e1c stablecoin. Theo DefiLlama<\/strong>, t\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u00e1c stablecoin \u0111\u00e3 \u0111\u1ea1t 253,9 t\u1ef7 USD<\/strong> v\u00e0o \u0111\u1ea7u th\u00e1ng 7 n\u0103m 2025, t\u0103ng t\u1eeb 239 t\u1ef7 USD<\/strong> v\u00e0o cu\u1ed1i th\u00e1ng 6. S\u1ef1 m\u1edf r\u1ed9ng n\u00e0y ph\u1ea3n \u00e1nh nhu c\u1ea7u ng\u00e0y c\u00e0ng t\u0103ng t\u1eeb c\u00e1c t\u1ed5 ch\u1ee9c v\u00e0 ng\u01b0\u1eddi ti\u00eau d\u00f9ng v\u1ec1 c\u00e1c l\u1ef1a ch\u1ecdn thay th\u1ebf \u0111\u00f4 la d\u1ef1a tr\u00ean blockchain, \u0111\u1eb7c bi\u1ec7t khi c\u00e1c bi\u1ebfn th\u1ec3 stablecoin c\u00f3 l\u00e3i su\u1ea5t c\u0169ng \u0111ang thu h\u00fat s\u1ef1 ch\u00fa \u00fd.<\/p>\n

Stablecoin c\u00f3 l\u00e3i su\u1ea5t, cung c\u1ea5p l\u1ee3i nhu\u1eadn th\u1ee5 \u0111\u1ed9ng th\u00f4ng qua c\u00e1c giao th\u1ee9c DeFi<\/strong> ho\u1eb7c d\u1ef1 tr\u1eef ki\u1ebfm l\u00e3i, \u0111\u00e3 t\u0103ng v\u1ecdt v\u1ec1 \u0111\u1ed9 ph\u1ed5 bi\u1ebfn\u2014t\u1eeb 1,5 t\u1ef7 USD<\/strong> v\u00e0o \u0111\u1ea7u n\u0103m 2024 l\u00ean 11 t\u1ef7 USD<\/strong> hi\u1ec7n nay, chi\u1ebfm 4,5%<\/strong> t\u1ed5ng th\u1ecb tr\u01b0\u1eddng stablecoin. M\u1ed9t b\u00e1o c\u00e1o c\u1ee7a Coinbase<\/strong> cho th\u1ea5y r\u1eb1ng s\u1ef1 quan t\u00e2m \u0111\u1ebfn vi\u1ec7c s\u1eed d\u1ee5ng stablecoin \u0111\u00e3 t\u0103ng g\u1ea5p ba l\u1ea7n theo n\u0103m k\u1ec3 t\u1eeb n\u0103m 2024. Nghi\u00ean c\u1ee9u n\u00e0y cho r\u1eb1ng s\u1ef1 gia t\u0103ng n\u00e0y l\u00e0 do c\u00e1c t\u1eadp \u0111o\u00e0n, doanh nghi\u1ec7p nh\u1ecf v\u00e0 ng\u01b0\u1eddi ti\u00eau d\u00f9ng t\u00ecm ki\u1ebfm c\u00e1c l\u1ef1a ch\u1ecdn thay th\u1ebf nhanh h\u01a1n, r\u1ebb h\u01a1n v\u00e0 minh b\u1ea1ch h\u01a1n cho c\u00e1c ph\u01b0\u01a1ng th\u1ee9c thanh to\u00e1n truy\u1ec1n th\u1ed1ng.<\/p>\n

Quy \u0110\u1ecbnh V\u1ec1 Stablecoin<\/h2>\n

C\u00e1c lo\u1ea1i h\u00ecnh thanh to\u00e1n stablecoin (Ngu\u1ed3n: Artemis<\/strong>) \u0111\u00e3 ghi nh\u1eadn 94,2 t\u1ef7 USD<\/strong> trong c\u00e1c giao d\u1ecbch stablecoin \u0111\u00e3 \u0111\u01b0\u1ee3c thanh to\u00e1n t\u1eeb th\u00e1ng 1 n\u0103m 2023 \u0111\u1ebfn th\u00e1ng 2 n\u0103m 2025. Khu\u00f4n kh\u1ed5 MiCA, c\u00f3 hi\u1ec7u l\u1ef1c v\u00e0o n\u0103m 2024, \u0111\u00e3 t\u1ea1o ra m\u1ed9t c\u00e1ch ti\u1ebfp c\u1eadn th\u1ed1ng nh\u1ea5t \u0111\u1ed1i v\u1edbi quy \u0111\u1ecbnh t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 tr\u00ean to\u00e0n EU. Kh\u00e1c v\u1edbi c\u00e1c ch\u1ebf \u0111\u1ed9 ph\u00e2n m\u1ea3nh \u1edf c\u00e1c khu v\u1ef1c ph\u00e1p l\u00fd kh\u00e1c, MiCA cung c\u1ea5p s\u1ef1 r\u00f5 r\u00e0ng v\u1ec1 c\u00e1c y\u00eau c\u1ea7u d\u1ef1 tr\u1eef stablecoin, ti\u00eau chu\u1ea9n ki\u1ec3m to\u00e1n v\u00e0 b\u1ea3o v\u1ec7 ng\u01b0\u1eddi ti\u00eau d\u00f9ng\u2014c\u00e1c \u0111i\u1ec1u ki\u1ec7n m\u00e0 Paxos cho bi\u1ebft h\u1ecd hoan ngh\u00eanh.<\/p>\n

Khi USDG \u0111\u00e1p \u1ee9ng c\u00e1c y\u00eau c\u1ea7u nghi\u00eam ng\u1eb7t c\u1ee7a MiCA v\u00e0 Paxos nh\u1eadn \u0111\u01b0\u1ee3c s\u1ef1 ch\u1ea5p thu\u1eadn t\u1eeb c\u1ea3 c\u00e1c nh\u00e0 qu\u1ea3n l\u00fd Ph\u1ea7n Lan v\u00e0 Singapore, c\u00f4ng ty \u0111ang \u0111\u1ecbnh v\u1ecb m\u00ecnh nh\u01b0 m\u1ed9t nh\u00e0 l\u00e3nh \u0111\u1ea1o to\u00e0n c\u1ea7u trong c\u00e1c gi\u1ea3i ph\u00e1p t\u00e0i ch\u00ednh k\u1ef9 thu\u1eadt s\u1ed1 tu\u00e2n th\u1ee7 quy \u0111\u1ecbnh. Khi M\u1ea1ng L\u01b0\u1edbi \u0110\u00f4 La To\u00e0n C\u1ea7u<\/strong> m\u1edf r\u1ed9ng v\u00e0 vi\u1ec7c \u00e1p d\u1ee5ng USDG lan r\u1ed9ng kh\u1eafp Ch\u00e2u \u00c2u v\u00e0 h\u01a1n th\u1ebf n\u1eefa, Paxos c\u00f3 th\u1ec3 m\u1edf \u0111\u01b0\u1eddng cho m\u1ed9t k\u1ef7 nguy\u00ean m\u1edbi c\u1ee7a c\u00e1c \u0111\u00f4 la k\u1ef9 thu\u1eadt s\u1ed1 t\u01b0\u01a1ng t\u00e1c, tu\u00e2n th\u1ee7 quy \u0111\u1ecbnh\u2014k\u1ebft n\u1ed1i ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng v\u00e0 t\u00e0i ch\u00ednh phi t\u1eadp trung tr\u00ean c\u00e1c ch\u00e2u l\u1ee5c.<\/p>\n

\u00c1p L\u1ef1c T\u1eeb C\u00e1c Nh\u00e0 L\u1eadp Ph\u00e1p M\u1ef9<\/h2>\n

Trong khi \u0111\u00f3, khi \u0111\u1ed9ng l\u1ef1c gia t\u0103ng \u1edf Washington \u0111\u1ec3 th\u00f4ng qua lu\u1eadt li\u00ean bang quy \u0111\u1ecbnh stablecoin, T\u1ed5ng ch\u01b0\u1edfng l\u00fd New York Letitia James<\/strong> \u0111ang k\u00eau g\u1ecdi c\u00e1c nh\u00e0 l\u1eadp ph\u00e1p t\u0103ng c\u01b0\u1eddng c\u00e1c \u0111\u1ec1 xu\u1ea5t hi\u1ec7n c\u00f3, c\u1ea3nh b\u00e1o r\u1eb1ng c\u00e1c d\u1ef1 th\u1ea3o hi\u1ec7n t\u1ea1i \u0111\u1ec3 l\u1ea1i cho h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh M\u1ef9\u2014v\u00e0 c\u00f4ng d\u00e2n c\u1ee7a n\u00f3\u2014m\u1ed9t r\u1ee7i ro kh\u00f4ng c\u1ea7n thi\u1ebft.<\/p>\n

Trong m\u1ed9t b\u1ee9c th\u01b0 g\u1eedi \u0111\u1ebfn c\u00e1c nh\u00e0 l\u00e3nh \u0111\u1ea1o qu\u1ed1c h\u1ed9i v\u00e0o th\u1ee9 Hai, James \u0111\u00e3 b\u00e0y t\u1ecf lo ng\u1ea1i v\u1ec1 hai d\u1ef1 lu\u1eadt stablecoin n\u1ed5i b\u1eadt \u0111ang \u0111\u01b0\u1ee3c xem x\u00e9t t\u1ea1i Qu\u1ed1c h\u1ed9i: \u0110\u1ea1o lu\u1eadt H\u01b0\u1edbng d\u1eabn v\u00e0 Thi\u1ebft l\u1eadp \u0110\u1ed5i m\u1edbi Qu\u1ed1c gia cho Stablecoin M\u1ef9 (GENIUS)<\/strong> c\u1ee7a Th\u01b0\u1ee3ng vi\u1ec7n v\u00e0 \u0110\u1ea1o lu\u1eadt Minh b\u1ea1ch v\u00e0 Tr\u00e1ch nhi\u1ec7m Stablecoin cho m\u1ed9t N\u1ec1n kinh t\u1ebf S\u1ed5 c\u00e1i T\u1ed1t h\u01a1n (STABLE)<\/strong> c\u1ee7a H\u1ea1 vi\u1ec7n. Trong khi b\u00e0 th\u1eeba nh\u1eadn s\u1ef1 c\u1ea7n thi\u1ebft ph\u1ea3i h\u00e0nh \u0111\u1ed9ng quy \u0111\u1ecbnh nhanh ch\u00f3ng, James nh\u1ea5n m\u1ea1nh r\u1eb1ng c\u1ea3 hai \u0111\u1ec1 xu\u1ea5t \u0111\u1ec1u thi\u1ebfu c\u00e1c bi\u1ec7n ph\u00e1p b\u1ea3o v\u1ec7 thi\u1ebft y\u1ebfu.<\/p>\n

James, ng\u01b0\u1eddi \u0111\u00e3 l\u00e0 m\u1ed9t trong nh\u1eefng quan ch\u1ee9c ti\u1ec3u bang M\u1ef9 t\u00edch c\u1ef1c nh\u1ea5t trong vi\u1ec7c tr\u1ea5n \u00e1p gian l\u1eadn v\u00e0 sai ph\u1ea1m trong l\u0129nh v\u1ef1c ti\u1ec1n \u0111i\u1ec7n t\u1eed, l\u1eadp lu\u1eadn r\u1eb1ng c\u00e1c nh\u00e0 ph\u00e1t h\u00e0nh stablecoin n\u00ean \u0111\u01b0\u1ee3c quy \u0111\u1ecbnh gi\u1ed1ng nh\u01b0 c\u00e1c ng\u00e2n h\u00e0ng. \u0110i\u1ec1u n\u00e0y bao g\u1ed3m c\u00e1c y\u00eau c\u1ea7u v\u1ec1 b\u1ea3o hi\u1ec3m ti\u1ec1n g\u1eedi\u2014m\u1ed9t bi\u1ec7n ph\u00e1p b\u1ed5 sung \u0111\u1ec3 b\u1ea3o v\u1ec7 ng\u01b0\u1eddi d\u00f9ng trong tr\u01b0\u1eddng h\u1ee3p nh\u00e0 ph\u00e1t h\u00e0nh ph\u00e1 s\u1ea3n. B\u00e0 c\u0169ng \u0111\u1ec1 xu\u1ea5t r\u1eb1ng H\u1ed9i \u0111\u1ed3ng D\u1ef1 tr\u1eef Li\u00ean bang<\/strong>, kh\u00f4ng ph\u1ea3i c\u00e1c c\u01a1 quan li\u00ean bang kh\u00e1c ho\u1eb7c c\u00e1c th\u1ef1c th\u1ec3 b\u1ecb \u1ea3nh h\u01b0\u1edfng b\u1edfi ch\u00ednh tr\u1ecb, n\u00ean \u0111\u01b0\u1ee3c ch\u1ec9 \u0111\u1ecbnh l\u00e0 c\u01a1 quan gi\u00e1m s\u00e1t ch\u00ednh \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 ph\u00e1t h\u00e0nh stablecoin kh\u00f4ng ph\u1ea3i ng\u00e2n h\u00e0ng. S\u1ef1 \u0111\u1ed9c l\u1eadp c\u1ee7a Fed, James l\u01b0u \u00fd, s\u1ebd gi\u00fap b\u1ea3o v\u1ec7 c\u00e1c quy\u1ebft \u0111\u1ecbnh gi\u00e1m s\u00e1t kh\u1ecfi \u00e1p l\u1ef1c ch\u00ednh tr\u1ecb v\u00e0 \u0111\u1ea3m b\u1ea3o qu\u1ea3n l\u00fd r\u1ee7i ro h\u1ee3p l\u00fd trong m\u1ed9t l\u0129nh v\u1ef1c t\u00e0i ch\u00ednh \u0111ang ph\u00e1t tri\u1ec3n nhanh ch\u00f3ng.<\/p>\n

\u0110\u1ea1o Lu\u1eadt GENIUS v\u00e0 STABLE<\/h2>\n

\u0110\u1ea1o lu\u1eadt GENIUS, \u0111\u00e3 \u0111\u01b0\u1ee3c to\u00e0n b\u1ed9 Th\u01b0\u1ee3ng vi\u1ec7n th\u00f4ng qua v\u00e0o th\u00e1ng 6 v\u1edbi s\u1ef1 h\u1ed7 tr\u1ee3 l\u01b0\u1ee1ng \u0111\u1ea3ng v\u00e0 s\u1ef1 \u1ee7ng h\u1ed9 t\u1eeb Nh\u00e0 Tr\u1eafng, y\u00eau c\u1ea7u c\u00e1c stablecoin ph\u1ea3i \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 ho\u00e0n to\u00e0n b\u1edfi \u0111\u00f4 la M\u1ef9 ho\u1eb7c c\u00e1c t\u00e0i s\u1ea3n t\u01b0\u01a1ng t\u1ef1 c\u00f3 t\u00ednh thanh kho\u1ea3n cao. C\u00e1c nh\u00e0 ph\u00e1t h\u00e0nh c\u00f3 v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng v\u01b0\u1ee3t qu\u00e1 50 t\u1ef7 USD<\/strong> s\u1ebd ph\u1ea3i ch\u1ecbu ki\u1ec3m to\u00e1n h\u00e0ng n\u0103m b\u1eaft bu\u1ed9c. N\u00f3 c\u0169ng thi\u1ebft l\u1eadp m\u1ed9t khu\u00f4n kh\u1ed5 li\u00ean bang \u0111\u1ec3 x\u1eed l\u00fd c\u00e1c stablecoin do c\u00e1c th\u1ef1c th\u1ec3 n\u01b0\u1edbc ngo\u00e0i ph\u00e1t h\u00e0nh.<\/p>\n

T\u1ed5ng th\u1ed1ng Donald Trump<\/strong> \u0111\u00e3 c\u00f4ng khai \u1ee7ng h\u1ed9 \u0110\u1ea1o lu\u1eadt GENIUS, tuy\u00ean b\u1ed1 r\u1eb1ng \u00f4ng mong \u0111\u1ee3i m\u1ed9t phi\u00ean b\u1ea3n c\u1ee7a d\u1ef1 lu\u1eadt s\u1ebd \u0111\u1ebfn b\u00e0n l\u00e0m vi\u1ec7c c\u1ee7a \u00f4ng \u0111\u1ec3 k\u00fd v\u00e0o th\u00e1ng 8. S\u1ef1 h\u1ed7 tr\u1ee3 t\u1eeb Nh\u00e0 Tr\u1eafng cho d\u1ef1 lu\u1eadt \u0111\u00e1nh d\u1ea5u m\u1ed9t s\u1ef1 chuy\u1ec3n bi\u1ebfn \u0111\u00e1ng k\u1ec3 trong l\u1eadp tr\u01b0\u1eddng c\u1ee7a ch\u00ednh ph\u1ee7 li\u00ean bang \u0111\u1ed1i v\u1edbi vi\u1ec7c t\u00edch h\u1ee3p stablecoin v\u00e0o h\u1ec7 sinh th\u00e1i t\u00e0i ch\u00ednh \u0111\u01b0\u1ee3c quy \u0111\u1ecbnh.<\/p>\n

Trong khi \u0111\u00f3, phi\u00ean b\u1ea3n c\u1ee7a H\u1ea1 vi\u1ec7n\u2014\u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 \u0110\u1ea1o lu\u1eadt STABLE\u2014\u0111\u00e3 \u0111\u01b0\u1ee3c \u1ee6y ban D\u1ecbch v\u1ee5 T\u00e0i ch\u00ednh H\u1ea1 vi\u1ec7n th\u00f4ng qua nh\u01b0ng v\u1eabn ch\u01b0a \u0111\u01b0\u1ee3c l\u00ean l\u1ecbch cho m\u1ed9t cu\u1ed9c b\u1ecf phi\u1ebfu to\u00e0n th\u1ec3. D\u1ef1 lu\u1eadt c\u1ee7a H\u1ea1 vi\u1ec7n kh\u00e1c v\u1edbi \u0110\u1ea1o lu\u1eadt GENIUS trong c\u00e1ch x\u1eed l\u00fd c\u00e1c nh\u00e0 ph\u00e1t h\u00e0nh stablecoin \u0111\u01b0\u1ee3c c\u1ea5p ph\u00e9p b\u1edfi ti\u1ec3u bang v\u00e0 trong c\u00e1ch ti\u1ebfp c\u1eadn \u0111\u1ed1i v\u1edbi c\u00e1c stablecoin n\u01b0\u1edbc ngo\u00e0i, ph\u1ea3n \u00e1nh c\u00e1c cu\u1ed9c tranh lu\u1eadn r\u1ed9ng h\u01a1n v\u1ec1 quy\u1ec1n h\u1ea1n quy \u0111\u1ecbnh li\u00ean bang so v\u1edbi ti\u1ec3u bang.<\/p>\n

Nh\u1eefng C\u1ea3nh B\u00e1o T\u1eeb T\u1ed5ng Ch\u01b0\u1edfng L\u00fd James<\/h2>\n

\u0110\u00e2y kh\u00f4ng ph\u1ea3i l\u00e0 l\u1ea7n \u0111\u1ea7u ti\u00ean T\u1ed5ng ch\u01b0\u1edfng l\u00fd James c\u1ea3nh b\u00e1o v\u1ec1 c\u00e1c stablecoin. V\u00e0o th\u00e1ng 4, b\u00e0 \u0111\u00e3 g\u1eedi m\u1ed9t b\u1ee9c th\u01b0 \u0111\u1ebfn c\u00e1c nh\u00e0 l\u00e3nh \u0111\u1ea1o qu\u1ed1c h\u1ed9i c\u1ea3nh b\u00e1o c\u1ee5 th\u1ec3 v\u1ec1 c\u00e1c r\u1ee7i ro h\u1ec7 th\u1ed1ng do c\u00e1c nh\u00e0 ph\u00e1t h\u00e0nh stablecoin c\u00f3 tr\u1ee5 s\u1edf n\u01b0\u1edbc ngo\u00e0i nh\u01b0 Tether (USDT)<\/strong>\u2014hi\u1ec7n l\u00e0 stablecoin l\u1edbn nh\u1ea5t theo v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng. Gi\u1edd \u0111\u00e2y, James c\u1ea3nh b\u00e1o r\u1eb1ng vi\u1ec7c ph\u1ee5 thu\u1ed9c v\u00e0o c\u00e1c nh\u00e0 ph\u00e1t h\u00e0nh do n\u01b0\u1edbc ngo\u00e0i ki\u1ec3m so\u00e1t c\u00f3 th\u1ec3 l\u00e0m suy y\u1ebfu ch\u1ee7 quy\u1ec1n ti\u1ec1n t\u1ec7 c\u1ee7a M\u1ef9 v\u00e0 l\u00e0m m\u00e9o m\u00f3 th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu Kho b\u1ea1c, khuy\u1ebfn ngh\u1ecb m\u1ed9t \u0111\u1ed9ng th\u00e1i l\u1eadp ph\u00e1p h\u01b0\u1edbng t\u1edbi vi\u1ec7c “\u0111\u01b0a c\u00e1c stablecoin v\u1ec1 n\u01b0\u1edbc” \u0111\u1ec3 c\u1ee7ng c\u1ed1 s\u1ef1 th\u1ed1ng tr\u1ecb to\u00e0n c\u1ea7u c\u1ee7a \u0111\u1ed3ng \u0111\u00f4 la M\u1ef9. B\u1ee9c th\u01b0 m\u1edbi nh\u1ea5t c\u1ee7a b\u00e0 nh\u1eafc l\u1ea1i nh\u1eefng lo ng\u1ea1i n\u00e0y, c\u1ea3nh b\u00e1o r\u1eb1ng lu\u1eadt ph\u00e1p kh\u00f4ng n\u00ean v\u00f4 t\u00ecnh t\u1ea1o ra c\u00e1c l\u1ed7 h\u1ed5ng cho ph\u00e9p c\u00e1c th\u1ef1c th\u1ec3 n\u01b0\u1edbc ngo\u00e0i th\u1ed1ng tr\u1ecb c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng stablecoin c\u1ee7a M\u1ef9 m\u00e0 kh\u00f4ng c\u00f3 s\u1ef1 gi\u00e1m s\u00e1t \u0111\u1ea7y \u0111\u1ee7.<\/p>\n

T\u01b0\u01a1ng Lai C\u1ee7a Stablecoin<\/h2>\n

Stablecoin, t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 \u0111\u01b0\u1ee3c g\u1eafn v\u1edbi c\u00e1c lo\u1ea1i ti\u1ec1n t\u1ec7 fiat nh\u01b0 \u0111\u00f4 la M\u1ef9, \u0111\u00e3 ph\u00e1t tri\u1ec3n th\u00e0nh m\u1ed9t th\u1ecb tr\u01b0\u1eddng h\u00e0ng tr\u0103m t\u1ef7 \u0111\u00f4 la v\u00e0 ng\u00e0y c\u00e0ng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng trong thanh to\u00e1n, t\u00e0i ch\u00ednh phi t\u1eadp trung v\u00e0 ki\u1ec1u h\u1ed1i. Theo DefiLlama<\/strong>, stablecoin \u0111\u1ea1i di\u1ec7n cho h\u01a1n 250 t\u1ef7 USD<\/strong> gi\u00e1 tr\u1ecb t\u00ednh \u0111\u1ebfn gi\u1eefa n\u0103m 2025. S\u1ef1 t\u0103ng tr\u01b0\u1edfng b\u00f9ng n\u1ed5 c\u1ee7a c\u00e1c t\u00e0i s\u1ea3n n\u00e0y \u0111\u00e3 th\u00fac \u0111\u1ea9y c\u00e1c y\u00eau c\u1ea7u v\u1ec1 quy \u0111\u1ecbnh, \u0111\u1eb7c bi\u1ec7t sau c\u00e1c s\u1ef1 c\u1ed1 b\u1ea5t \u1ed5n th\u1ecb tr\u01b0\u1eddng\u2014bao g\u1ed3m s\u1ef1 s\u1ee5p \u0111\u1ed5 c\u1ee7a stablecoin thu\u1eadt to\u00e1n TerraUSD<\/strong> v\u00e0o n\u0103m 2022 v\u00e0 nhi\u1ec1u h\u00e0nh \u0111\u1ed9ng th\u1ef1c thi ch\u1ed1ng l\u1ea1i c\u00e1c nh\u00e0 ph\u00e1t h\u00e0nh kh\u00f4ng c\u00f3 gi\u1ea5y ph\u00e9p. Khi c\u00e1c t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng nh\u01b0 PayPal<\/strong>, Circle<\/strong> v\u00e0 Mastercard<\/strong> gia nh\u1eadp l\u0129nh v\u1ef1c stablecoin, c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch li\u00ean bang \u0111ang ch\u1ecbu \u00e1p l\u1ef1c \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh c\u00e1c quy t\u1eafc r\u00f5 r\u00e0ng nh\u1eb1m th\u00fac \u0111\u1ea9y \u0111\u1ed5i m\u1edbi m\u00e0 kh\u00f4ng l\u00e0m nguy h\u1ea1i \u0111\u1ebfn s\u1ef1 \u1ed5n \u0111\u1ecbnh t\u00e0i ch\u00ednh.<\/p>\n","protected":false},"excerpt":{"rendered":"

C\u1ea3nh Quan Stablecoin To\u00e0n C\u1ea7u C\u1ea3nh quan stablecoin to\u00e0n c\u1ea7u \u0111ang ph\u00e1t tri\u1ec3n nhanh ch\u00f3ng, v\u1edbi Paxos v\u1eeba ra m\u1eaft token USDG c\u1ee7a m\u00ecnh t\u1ea1i Li\u00ean minh Ch\u00e2u \u00c2u, trong khi c\u00e1c nh\u00e0 l\u1eadp ph\u00e1p M\u1ef9 \u0111ang ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi \u00e1p l\u1ef1c \u0111\u1ec3 c\u1ea3i t…<\/p>\n","protected":false},"author":3,"featured_media":10495,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[4226,5536,4362,6687,5411,4617,4332,4523,4217,8865,4712,5873,4363,4579,5410,4999,5320,4279,4692,5509,7871],"class_list":["post-10496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal","tag-coinbase","tag-defi-llama","tag-eu","tag-finland","tag-galaxy-digital","tag-gate-io","tag-genius-act","tag-kraken","tag-legal","tag-letitia-james","tag-markets-in-crypto-assets","tag-mastercard","tag-mica","tag-new-york","tag-paxos","tag-paypal","tag-robinhood","tag-singapore","tag-stable-act","tag-tradfi","tag-usdg"],"yoast_head":"\nS\u1ef1 M\u1edf R\u1ed9ng C\u1ee7a Stablecoin \u0110\u00f4 La To\u00e0n C\u1ea7u T\u1ea1i EU Trong Khi C\u00e1c Nh\u00e0 L\u1eadp Ph\u00e1p M\u1ef9 \u0110\u1ed1i M\u1eb7t V\u1edbi S\u1ef1 Ph\u1ea3n \u0110\u1ed1i - 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