China's top regulator has published a fresh report calling for the creation of an international coalition to develop a regulatory environment for blockchain technologies and digital assets. Experts from a number of specialists of the department stressed that the share of cryptocurrencies in the global financial sector is only 1%. However, their impact is limited, as noted in the report.

Journalist Colin Wu notes that this is the first time that the Central Bank of China has paid attention to digital assets in its report. Regulators believe that different countries should reach agreement on the creation of common standards for effective regulation of this area.

Economists from China also emphasize that cryptocurrencies remain a high-risk sector, especially in light of hacker activity. It is noted that the collapse of FTX and Terra last year had a strong impact on the investment climate in this industry. This new NSC report is considered critically important from the point of view of the global perception of this situation.

However, it is worth noting that China has always been strict about digital assets. In 2021, China introduced measures aimed at limiting the spread of these tools on its territory, but despite this, it remains one of the leading mining centers.

Earlier, CoinDesk experts noted that the stablecoin market is at a crossroads in its development, and the future of this industry will depend on the actions of large jurisdictions in the field of regulatory regulation. However, many countries are still unable to reach agreement on this issue.