穩定幣風險在歐洲被視為微不足道：歐洲央行
歐洲央行（ECB）表示，由於穩定幣的採用率低，加上預防性監管，歐元區的穩定幣風險有限。該行於周一發佈了其金融穩定性評估的預發布版本，專門探討穩定幣市場的增長，這些數字資產的價值與法定貨幣或商品掛鉤。
報告由ECB的金融穩定性專家Senne Aerts、Claudia Lambert和Elisa Reinhold撰寫，質疑穩定幣在加密交易之外的應用案例，並強調其在歐元區的金融穩定風險較低。
報告指出：“目前，穩定幣所引發的金融穩定風險在歐元區內是有限的，但其快速增長值得密切監控，同時需要解決跨境監管套利所帶來的風險。”
加密交易仍然是穩定幣的主要用途
報告中提到：“目前，加密交易無疑是穩定幣最重要的用途，”並補充說，像跨境支付這樣的其他用途“僅占少數”。根據國際貨幣基金組織（IMF）在七月的一項研究，報告指出，穩定幣的流動中有很大一部分是跨境的，但缺乏證據表明這些流動與匯款有系統性聯繫。
報告還強調穩定幣在零售交易中的使用有限，引用Visa的估計，只有約0.5%的穩定幣交易是有機的、零售規模的轉賬（少於250美元）。
“穩定幣的使用似乎主要受到其在加密資產生態系統中的角色驅動，尚不清楚穩定幣是否會在其他用途上廣泛採用，”ECB的專家總結道。
美元穩定幣與歐元市場的互聯性較低
報告指出，由於穩定幣在涉及現實資產的交易中並未被廣泛使用，特別是在歐元區內，穩定幣市場對歐洲的金融穩定風險並不迫切。儘管以美元為基礎的穩定幣，例如Tether的USDT和Circle的USDC在市場上佔有84%的份額，但它們與歐元區金融市場的互聯性有限。
即使穩定幣的使用案例增長，與歐元區的互聯性增加，歐盟的加密監管框架——《加密資產市場法規》（MiCA）——也會減輕潛在風險，報告的作者寫道：“為了減輕跨境監管套利所帶來的風險，並降低來自監管不足的司法管轄區的溢出風險，全球範圍內的監管框架需要進一步協調。”
在限制穩定幣相關風險的具體措施中，作者提到MiCA禁止穩定幣發行者和加密資產服務提供者對穩定幣持有者支付利息的規定。作者指出，由銀行政策研究所主導的銀行集團一直在呼籲美國也採取類似的禁令，聯邦監管機構預計會在2026或2027年發佈針對穩定幣的GENIUS法案的最終實施規則。
最新的ECB報告突顯了歐盟在穩定幣議程上的顯著變化，執行委員會成員如Piero Cipollone曾警告美國穩定幣對歐洲支付主權構成威脅，進一步強化了推出歐元央行數字貨幣的理由。
隨著ECB計劃在2027年啟動數字歐元的試點，並可能在2029年首次發行，該機構在持續監控和解決穩定幣相關風險的同時，正穩步推進。
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這篇報告顯示出歐洲央行對穩定幣風險的相對樂觀態度，然而，值得注意的是，隨著加密市場的快速變化，這種風險評估可能會隨著時間而改變。穩定幣的應用範圍是否會擴大至更多日常交易和商業用途，將直接影響其對金融穩定的潛在影響。歐洲央行的監管措施與未來的數字貨幣計劃，無疑將在這一過程中扮演重要角色。
以上文章由特價GPT API KEY所翻譯及撰寫。而圖片則由FLUX根據內容自動生成。
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![{
"intro": "Create an ultra realistic 8K UHD DSLR photo based on the attached image as a reference of facial features, maintaining 100% likeness.",
"subject": {
"identity": "A stylish beautiful woman portrayed as Cleopatra performing a sacred night-time royal dance, embodying divine seduction, power, and celestial authority.",
"angle": "Full-body high-fashion editorial portrait captured at a cinematic 3/4 angle, ultra-crisp clarity with no blur.",
"pose": {
"body_position": "She is captured mid-dance inside a temple courtyard at night, her body angled gracefully, hips grounded, torso lifted, creating a powerful and sensual silhouette.",
"movement": "Her arms are raised in slow ceremonial motion while one leg steps forward, fully revealing her feet and lower legs as part of the ritual stance.",
"expression": "A calm, hypnotic, commanding gaze directed toward the camera—quiet dominance wrapped in sensual mystery."
}
},
"appearance": {
"outfit": "An ultra-bongga Cleopatra couture gown with an all-crystal bodice that fits like jeweled armor. Thousands of hand-set crystals, diamonds, and glass stones in gold, champagne, clear, and iridescent tones form sacred Egyptian motifs—cobras, sun disks, lotus symbols—entirely through crystal placement. The neckline is daring yet elegant, supported by invisible illusion mesh. From the waist, the skirt opens into flowing sheer silk and organza panels in ivory and soft gold, designed with a high front opening that intentionally exposes her legs and feet during movement. Crystal chains and beaded fringe sway rhythmically with every step, enhancing sensual motion.",
"accessories": "A dramatic Egyptian ceremonial headpiece with gold and crystal detailing, an oversized layered gold collar necklace, sculpted crystal arm cuffs, finger armor rings, a crystal-and-gold waist belt, and delicate gold anklets accentuating her bare feet.",
"hair": "Her hair is sleek, glossy, and perfectly controlled, styled to balance the weight of the crystal headpiece while allowing elegant movement.",
"makeup": "Ultra-glam, colorful Egyptian night makeup—bold elongated black kohl eyeliner, intense eyeshadow layered in turquoise, emerald, sapphire blue, violet, and metallic gold. Beneath the eyes, intricate ceremonial ink drawings in fine black and gold lines inspired by ancient Egyptian markings. Skin is luminous with molten-gold highlights, brows strong and defined, lips finished in a sensual nude-bronze satin."
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"props": {
"ritual_elements": [
"Burning incense bowls releasing thick aromatic smoke",
"Golden sistrum placed near the dance space",
"Tall ceremonial torches lining the temple floor"
]
},
"background": {
"macro_environment": "A grand ancient Egyptian temple courtyard at night, reserved for sacred royal rituals.",
"midground_details": "Towering sandstone columns, massive statues of Isis and Hathor, carved temple walls, flowing linen drapes, and ceremonial platforms illuminated by firelight.",
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},
"lighting": {
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},
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"shutter_speed": "1/200s to freeze elegant motion clearly",
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},
"style": "Ultra high-fashion editorial, night temple ritual, all-crystal couture, sexy yet sacred, ancient Egyptian royalty reimagined, cinematic realism, extremely detailed, sharp, iconic"
}](https://ssfuture.shop/wp-content/uploads/ai_gen_1766006158-167x300.png)
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— full body or mid-length portrait, shallow depth of field, delicate highlights, softly blurred minimalist background, inviting eyes, tasteful and elegant composition.](https://ssfuture.shop/wp-content/uploads/ai_gen_1764974976-300x300.png)
