#稳定币风险评估 Looking back at history, I deeply feel the importance of stablecoin risk assessment. The news that Bolivia plans to incorporate cryptocurrency into its formal financial system reminds me of the rise and fall of stablecoins throughout past bull and bear cycles. From the earliest Tether to the later USDC and DAI, each stage had its own characteristics and lessons.

The Bolivian government's approach of starting with stablecoins appears cautious but actually contains risks. History tells us that the risk of stablecoins often lies in the underlying asset reserves and governance mechanisms. The 2022 Terra/LUNA collapse was a painful lesson, resulting in billions of dollars in losses.

Although Bolivia allowing banks to provide cryptocurrency services seems like progress, how to regulate and ensure asset security remains a major challenge. I personally experienced the 2014 Mt.Gox exchange collapse and know well the consequences of poor regulation.

For emerging market countries, introducing cryptocurrency may enhance financial inclusion but could also increase the fragility of the monetary system. The lessons of the 1997 Asian financial crisis are still worth heeding.

Overall, Bolivia's attempt is worth watching, but even more attention should be paid to the specific implementation details and risk prevention measures. In this era of rapid change, we must embrace innovation while learning from history and proceed with caution.