Will you still believe that South Korea will issue stablecoins again? As the countdown to the presidential election approaches, South Korean candidates have brought the "Korean won stablecoin" to the table. Democratic candidate Lee Jae myung stated that South Korea must establish its own stablecoin system as soon as possible, otherwise funds will flow abroad. He also promised to promote the legalization of encrypted ETFs and establish a unified regulatory framework - which sounds like pressing the fast forward button for Web3. But another candidate, Li Junxi, poured a bucket of cold water directly. He mentioned the nightmare of 2022, Luna crash, KRT zero, and heavy losses for Koreans. He questioned, "Now you want to develop stablecoins, but you haven't explained the collateral mechanism clearly. Isn't this a repeat of the same mistake This "war of words on stable currency", to some extent, reflects the complex feelings of Koreans who love and fear stable currency. After all, everyone has not forgotten the days when they were harvested by algorithms. However, other countries around the world have not stopped exploring: As early as 2022, the opposition NUG in Myanmar launched the digital kyat (DMMK) pegged to the US dollar, known as nUSDT, for daily settlement and fundraising purposes; On the Hong Kong side, Standard Chartered Bank, HKT, and Animoca are jointly preparing for the Hong Kong dollar stablecoin project, in conjunction with the upcoming stablecoin bill, to create a regulated Web3 payment network in Hong Kong; There are also related project trials in Singapore, Bahrain, and other places, some of which have been integrated with USDC and USDT for compliance. The next stop for stablecoins may be worth re examining - not all anchors represent stability, and not every issuance means progress. But what can be confirmed is that stablecoins are not just financial instruments, they are becoming a part of the national digital strategy and a convergence point of power, credit, and technology. Whoever can strike a balance between trust and regulation may dominate the next global financial narrative. This stage is no longer just a game about "coins".