According to CoinMeta, Dan Katz, the First Vice President of the International Monetary Fund (_IMF), stated that local stablecoins may accelerate the shift of users towards US dollar-stabilized coins, as users can exchange them through decentralized trading platforms, liquidity pools, or peer-to-peer transactions. This reduces the cost of currency conversion and promotes the transfer of foreign exchange activities onto the blockchain. He pointed out that the reasons users prefer US dollar-stabilized coins include higher liquidity, stronger network effects, and broader acceptance, and called on regulatory authorities around the world to incorporate the entry and exit of stablecoins, as well as on-chain trading platforms, into their regulatory frameworks.