[Deputy Governor of the Reserve Bank of India Warns of Stablecoin Risks] According to Zhitong Finance, the Deputy Governor of the Reserve Bank of India stated in a public speech that stablecoins could exacerbate the risk of dollarization of local currencies, weaken emerging economies' ability to regulate capital flows, and pose a threat to the independence of monetary policy. Additionally, their circulation could increase credit costs and trigger currency substitution effects. Foreign stablecoins may lead to the loss of seigniorage revenue for many countries.