随着政府收紧行业的监督，耐心制度的“黑暗稳定”可能会增加需求

由于缺乏政府干预，已将稳定剂用于各个团体来存储资产。但是，随着法规待处理，可能很快就会改变。

Censorship-resistant "dark stablecoins" could come in increasing demand as governments tighten their oversight of the industry, CryptoQuant CEO Ki Young Ju said.

CryptoQuant首席执行官Ki Young Ju说，随着政府收紧行业的监督，抗审查制度的“黑暗稳定”可能会增加需求。

Stablecoins have been used for various groups to store assets due to a lack of government involvement; however, with new regulations pending, that could soon change, Ju said in a May 11 X post.

由于缺乏政府参与，已将稳定的人用于各个团体来存储资产；但是，随着新规定的待决，可能很快就会改变，JU在5月11日的职位中说。

“Soon, any stablecoin issued by a country could face strict govt regulation, similar to traditional banks. Transfers might automatically trigger tax collection through smart contracts, and wallets could be frozen or require paperwork based on government rules.”

“很快，一个国家发行的任何稳定者都可能面临严格的政府法规，类似于传统银行。转让可能会通过智能合同自动触发税收，钱包可能会被冻结或根据政府规则要求文书工作。”

On the heels of US President Donald Trump’s crypto-friendly administration assuming power earlier this year, lawmakers are weighing stablecoin legislation, which seeks to regulate US stablecoins, ensuring their legal use for payments.

在美国总统唐纳德·特朗普（Donald Trump）对加密货币友好型政府的紧随其后，立法者正在权衡稳定的立法，该立法旨在规范美国稳定的稳定者，以确保其法律使用。

The European Union has already brought in its Markets in Crypto-Assets (MiCA) regulation, which, among other measures, mandates that stablecoins be regulated and transparent.

欧盟已经通过加密资产（MICA）法规引入了其市场，除其他措施外，该法规规定了稳定的稳定性。

Ju speculates that a dark or private stablecoin could be created as an algorithmic stablecoin, with the value maintained through algorithmic mechanisms rather than being pegged to an external asset like gold, which makes it susceptible to interference from authorities.

JU推测可以将黑暗或私人的稳定币作为算法稳定性创建，其价值通过算法机制维护，而不是将其固定在诸如黄金之类的外部资产中，这使其容易受到当局的干扰。

“One possible example could be a decentralized stablecoin that follows the price of regulated coins like USDC using data oracles like Chainlink.”

“一个可能的例子可能是一个去中心化的稳定剂，它遵循使用Chainlink等数据座（USDC）等受监管硬币的价格。”

Another way would be stablecoins issued by countries that don’t censor financial transactions, or, for example, if Tether chooses not to comply with US government regulations in the future.

另一种方法是由不审查金融交易的国家发行的稳定币，例如，如果勒系选择未来不遵守美国政府法规。

“USDT itself used to be considered a censorship-resistant stablecoin. If Tether chooses not to comply with US government regulations under a future Trump administration, it could become a dark stablecoin in an increasingly censored internet economy.”

“ USDT本身曾经被认为是一种持审查制度的稳定性。如果Tether选择不遵守未来特朗普政府的美国政府法规，那么它可能会成为日益审查的互联网经济中的黑暗稳定者。”

Privacy technology in crypto is already being used

加密中的隐私技术已经被使用

Zcash (ZEC) and Monero (XMR) — while they aren’t stablecoins —already shield transactions and allow users to send and receive funds without revealing their transaction data on the blockchain.

ZCASH（ZEC）和Monero（XMR）（XMR） - 虽然不是Stablecoins，但已准备就绪屏蔽交易，并允许用户发送和接收资金而无需在区块链上透露其交易数据。

Several projects are also working on using similar technology for stablecoins, such as Zephyr Protocol, a Monero fork that stiches transactions from being revealed on the blockchain. PARScoin also hides user identities, transaction values, and links to past transactions.

几个项目还致力于将类似技术用于Stablecoins，例如Zephyr协议，Zephyr协议，这是一种在区块链上揭示的交易。 Parscoin还隐藏了用户身份，交易值以及与过去交易的链接。

The market cap of US dollar-denominated stablecoins has continued to grow, crossing $230 billion in April, a report from investment banking giant Citigroup found. That’s an increase of 54% since last year, with Tether (USDT) and USDC (USDC) code>dominating 90% of the market.

投资银行巨头花旗集团（Citigroup）的一份报告发现，以美元计价的Stablecoins的市值持续增长，跨越了4月的2,300亿美元。自去年以来，这增加了54％的增长，而Tether（USDT）和USDC（USDC）代码>占据了90％的市场。

Meanwhile, total stablecoin volumes hit $27.6 trillion in 2024, surpassing the combined volumes of Visa and Mastercard by 7.7%.

同时，2024年的总稳定量达到27.6万亿美元，超过了签证和万事达卡的合并量。