对稳定的信心的信心危机：Tureusd，Tether和迫切需要监管

对于那些在加密生态系统中寻求稳定的人来说，Stablecoins已确立了自己的诱人选择。与其他加密货币不同，它们的价值与诸如美元或黄金之类的传统资产相关。

Stablecoins, cryptocurrencies designed to maintain a stable value relative to traditional assets like the U.S. dollar, have emerged as a stable presence within the volatile crypto ecosystem. Their value remains largely unaffected by the broader market fluctuations, making them a preferred choice for payments, international transfers, and storing value. However, recent investigations into some of these stablecoins have raised doubts about their transparency and security practices.

稳定币（旨在保持相对于美元（如美元）保持稳定价值的加密货币，已成为挥发性加密生态系统中的稳定存在。它们的价值在很大程度上不受更广泛的市场波动的影响，使其成为付款，国际转让和存储价值的首选。但是，最近对这些稳定币中的一些调查引起了人们对其透明度和安全实践的怀疑。

TrueUSD’s False Claims on Stablecoin Reserves

Trueusd对Stablecoin储备金的虚假主张

One notable case is that of TrueUSD. The SEC's investigation revealed that the company behind this stablecoin misled customers by falsely claiming that its value was fully backed by U.S. dollars held in trust. However, the reality was that nearly all of its reserves were invested in a high-risk hedge fund. Such practices damage the integrity of the crypto industry and highlight the difficulty in verifying and trusting the transparency claims of these stablecoins without real-time audits.

一个值得注意的情况是Trueusd。 SEC的调查表明，该公司误认为其价值以信托基金中的美元完全支持，这是该公司误导客户误导客户背后的公司。但是，现实是，几乎所有的储备都投资于高风险对冲基金。这样的实践损害了加密行业的完整性，并突出了在没有实时审核的情况下验证和信任这些稳定的透明度主张的困难。

Tether’s Lack of Transparency Raises Red Flags

系绳缺乏透明度会增加危险信号

This isn't the first time the reliability of stablecoins has come under scrutiny. Tether, the company behind USDT — the largest stablecoin in the market — has faced criticism over its lack of transparency regarding its reserves. Previous investigations found that its reserves were not fully backed by U.S. dollars, but included loans and other risky assets. In 2021, the U.S. Commodity Futures Trading Commission sanctioned the company for making misleading disclosures about its reserves.

这并不是第一次受到签订的可靠性审查。 Tether是USDT（市场上最大的Stablecoin）背后的公司Tether，对其在储备方面缺乏透明度面临批评。先前的调查发现，其储备金并未得到美元的完全支持，而包括贷款和其他风险资产。 2021年，美国商品期货交易委员会批准了该公司对其储备的误导性披露。

The TerraUSD Collapse: A Reminder of Crypto Risks

Terrausd崩溃：提醒着加密风险

The 2022 TerraUSD crisis was one of the harshest blows to the industry. Unlike Tether or TrueUSD, which are backed by physical assets, TerraUSD was an algorithmic stablecoin. Its system relied on an automatic adjustment mechanism with the Luna cryptocurrency to maintain its peg to the U.S. dollar. When confidence in the system faltered, TerraUSD lost its peg and crashed to a fraction of a cent. Thousands of investors lost their funds in a matter of days, reinforcing the perception that many cryptocurrencies are not as stable as they claim to be.

2022年的Terrausd危机是该行业最严厉的打击之一。与有物理资产支持的系绳或Tureusd不同，Terrausd是一种算法stablecoin。它的系统依赖于Luna加密货币的自动调整机制，以保持其固定为美元。当对系统的信心动摇时，Terrausd失去了钉子，撞到了一分钱。成千上万的投资者在几天之内损失了资金，从而增强了人们认为许多加密货币并不像他们声称的那样稳定的看法。

The Importance of Proper Stablecoin Regulation

适当的稳定法规的重要性

One of the biggest issues that continues to plague the crypto industry is the lack of regulation. In the U.S., the SEC has taken separate actions against stablecoin companies that failed to meet their obligations, but the absence of a comprehensive regulatory framework remains the crux of the problem. In contrast, Europe is taking a different approach. With the implementation of MiCA, set for 2025, the EU will establish clear rules for stablecoin issuers. The regulation mandates that at least 30% of received funds must be kept in separate bank accounts, with the remaining portion permitted for investment in secure, highly liquid assets. Additionally, it requires periodic audits to allow investors to verify their solvency.

继续困扰加密货币行业的最大问题之一是缺乏监管。在美国，SEC已针对未能履行其义务的Stablecoin公司采取了单独的行动，但缺乏全面的监管框架仍然是问题的关键。相比之下，欧洲正在采取不同的方法。随着设定于2025年的MICA的实施，欧盟将为Stablecoin发行人制定明确的规则。该法规规定，必须将至少30％的收到的资金保存在单独的银行帐户中，其余部分可以投资于安全的，高度流动资产的资产。此外，它需要定期审核，以允许投资者验证其偿付能力。

The European regulation could be a turning point for the market. Stablecoins that comply with clear rules are likely to gain traction over those that lack transparency. While some critics argue that strict regulations could stifle innovation, the ongoing crisis of confidence in the sector highlights the need for oversight to prevent fraud and ensure stability.

欧洲法规可能是市场的转折点。符合明确规则的稳定币可能会使缺乏透明度的稳定者获得关注。尽管一些批评家认为严格的法规可能会扼杀创新，但对该部门的信心持续的危机强调了对防止欺诈并确保稳定的监督的必要性。

Crucial Changes for Sustainable Crypto Growth

可持续加密增长的关键变化

Stablecoins are a crucial part of the crypto ecosystem, valued for their stability and ease of use in payments, international transfers, and storing value. Their long-term success, however, hinges on trust. Without a solid and verifiable backing, their stability is an illusion. To enhance their credibility and provide greater security for investors, the adoption of real-time proof of reserves and independent audits is paramount. The future of stablecoins will depend on their ability to prove that they genuinely hold the reserves they claim to have. It is essential to implement clear, fair, and standardized regulations that encourage greater transparency in the sector.

稳定剂是加密生态系统的关键部分，其稳定性和易于使用，国际转移和存储价值的易用性。但是，他们的长期成功取决于信任。没有坚实且可验证的支持，它们的稳定性就是一种幻想。为了提高他们的信誉并为投资者提供更大的安全性，采用储备和独立审计的实时证明至关重要。 Stablecoins的未来将取决于他们证明他们真正拥有所拥有的储备的能力。实施明确，公平和标准化的法规至关重要，以鼓励该行业的更大透明度。