Prof. Chiu will address how regulators have been debating the inclusion of crypto assets within the regulatory perimeter, with regulatory attention particularly heightened by stablecoins' potential to disrupt mainstream payment systems. Her talk will examine how Meta's now-defunct Diem project served as a catalyst for the Financial Stability Board's recommendations, subsequently translated into legislative frameworks such as Mica. Drawing on her extensive corporate governance and financial regulation research, Prof. Chiu will explore how regulatory approaches are primarily defensive against global stablecoins, attempting to balance innovation with precautionary measures. She will question whether these regulatory frameworks actually address the existing stablecoin industry, which currently occupies a niche role as a gateway to the broader crypto economy, with particular attention to cross-border implications and international coordination efforts.