id	sid	tid	token	lemma	pos
fbem-31693	1	1	frontiers	frontier	NOUN
fbem-31693	1	2	in	in	ADP
fbem-31693	1	3	business	business	NOUN
fbem-31693	1	4	,	,	PUNCT
fbem-31693	1	5	economics	economic	NOUN
fbem-31693	1	6	and	and	CCONJ
fbem-31693	1	7	management	management	NOUN
fbem-31693	1	8	issn	issn	PROPN
fbem-31693	1	9	:	:	PUNCT
fbem-31693	1	10	2766	2766	NUM
fbem-31693	1	11	-	-	PUNCT
fbem-31693	1	12	824x	824x	NUM
fbem-31693	1	13	|	|	ADJ
fbem-31693	1	14	vol	vol	NOUN
fbem-31693	1	15	.	.	PROPN
fbem-31693	1	16	20	20	NUM
fbem-31693	1	17	,	,	PUNCT
fbem-31693	1	18	no	no	INTJ
fbem-31693	1	19	.	.	NOUN
fbem-31693	1	20	3	3	NUM
fbem-31693	1	21	,	,	PUNCT
fbem-31693	1	22	2025	2025	NUM
fbem-31693	1	23	1	1	NUM
fbem-31693	1	24	research	research	NOUN
fbem-31693	1	25	on	on	ADP
fbem-31693	1	26	the	the	DET
fbem-31693	1	27	impact	impact	NOUN
fbem-31693	1	28	mechanism	mechanism	NOUN
fbem-31693	1	29	and	and	CCONJ
fbem-31693	1	30	regulatory	regulatory	ADJ
fbem-31693	1	31	framework	framework	NOUN
fbem-31693	1	32	optimization	optimization	NOUN
fbem-31693	1	33	of	of	ADP
fbem-31693	1	34	stable	stable	ADJ
fbem-31693	1	35	coin	coin	NOUN
fbem-31693	1	36	development	development	NOUN
fbem-31693	1	37	on	on	ADP
fbem-31693	1	38	financial	financial	ADJ
fbem-31693	1	39	system	system	NOUN
fbem-31693	1	40	risks	risk	NOUN
fbem-31693	1	41	zedian	zedian	ADJ
fbem-31693	1	42	lin	lin	PROPN
fbem-31693	1	43	school	school	PROPN
fbem-31693	1	44	of	of	ADP
fbem-31693	1	45	jinan	jinan	PROPN
fbem-31693	1	46	university	university	PROPN
fbem-31693	1	47	,	,	PUNCT
fbem-31693	1	48	guangzhou	guangzhou	PROPN
fbem-31693	1	49	,	,	PUNCT
fbem-31693	1	50	china	china	PROPN
fbem-31693	1	51	abstract	abstract	PROPN
fbem-31693	1	52	:	:	PUNCT
fbem-31693	1	53	this	this	DET
fbem-31693	1	54	article	article	NOUN
fbem-31693	1	55	focuses	focus	VERB
fbem-31693	1	56	on	on	ADP
fbem-31693	1	57	the	the	DET
fbem-31693	1	58	impact	impact	NOUN
fbem-31693	1	59	of	of	ADP
fbem-31693	1	60	stablecoin	stablecoin	ADJ
fbem-31693	1	61	development	development	NOUN
fbem-31693	1	62	on	on	ADP
fbem-31693	1	63	financial	financial	ADJ
fbem-31693	1	64	system	system	NOUN
fbem-31693	1	65	risks	risk	NOUN
fbem-31693	1	66	and	and	CCONJ
fbem-31693	1	67	the	the	DET
fbem-31693	1	68	optimization	optimization	NOUN
fbem-31693	1	69	of	of	ADP
fbem-31693	1	70	regulatory	regulatory	ADJ
fbem-31693	1	71	frameworks	framework	NOUN
fbem-31693	1	72	.	.	PUNCT
fbem-31693	2	1	with	with	ADP
fbem-31693	2	2	the	the	DET
fbem-31693	2	3	rapid	rapid	ADJ
fbem-31693	2	4	expansion	expansion	NOUN
fbem-31693	2	5	of	of	ADP
fbem-31693	2	6	the	the	DET
fbem-31693	2	7	global	global	ADJ
fbem-31693	2	8	stablecoin	stablecoin	PROPN
fbem-31693	2	9	market	market	NOUN
fbem-31693	2	10	,	,	PUNCT
fbem-31693	2	11	it	it	PRON
fbem-31693	2	12	is	be	AUX
fbem-31693	2	13	widely	widely	ADV
fbem-31693	2	14	used	use	VERB
fbem-31693	2	15	in	in	ADP
fbem-31693	2	16	cross	cross	ADJ
fbem-31693	2	17	-	-	ADJ
fbem-31693	2	18	border	border	ADJ
fbem-31693	2	19	payments	payment	NOUN
fbem-31693	2	20	,	,	PUNCT
fbem-31693	2	21	cryptocurrency	cryptocurrency	NOUN
fbem-31693	2	22	transactions	transaction	NOUN
fbem-31693	2	23	,	,	PUNCT
fbem-31693	2	24	and	and	CCONJ
fbem-31693	2	25	other	other	ADJ
fbem-31693	2	26	scenarios	scenario	NOUN
fbem-31693	2	27	,	,	PUNCT
fbem-31693	2	28	which	which	PRON
fbem-31693	2	29	has	have	AUX
fbem-31693	2	30	brought	bring	VERB
fbem-31693	2	31	impact	impact	NOUN
fbem-31693	2	32	to	to	ADP
fbem-31693	2	33	the	the	DET
fbem-31693	2	34	traditional	traditional	ADJ
fbem-31693	2	35	financial	financial	ADJ
fbem-31693	2	36	system	system	NOUN
fbem-31693	2	37	.	.	PUNCT
fbem-31693	3	1	by	by	ADP
fbem-31693	3	2	analyzing	analyze	VERB
fbem-31693	3	3	the	the	DET
fbem-31693	3	4	impact	impact	NOUN
fbem-31693	3	5	mechanism	mechanism	NOUN
fbem-31693	3	6	of	of	ADP
fbem-31693	3	7	stablecoins	stablecoin	NOUN
fbem-31693	3	8	on	on	ADP
fbem-31693	3	9	financial	financial	ADJ
fbem-31693	3	10	system	system	NOUN
fbem-31693	3	11	risks	risk	NOUN
fbem-31693	3	12	,	,	PUNCT
fbem-31693	3	13	sorting	sort	VERB
fbem-31693	3	14	out	out	ADP
fbem-31693	3	15	the	the	DET
fbem-31693	3	16	current	current	ADJ
fbem-31693	3	17	situation	situation	NOUN
fbem-31693	3	18	and	and	CCONJ
fbem-31693	3	19	problems	problem	NOUN
fbem-31693	3	20	of	of	ADP
fbem-31693	3	21	international	international	ADJ
fbem-31693	3	22	regulation	regulation	NOUN
fbem-31693	3	23	,	,	PUNCT
fbem-31693	3	24	proposing	propose	VERB
fbem-31693	3	25	optimization	optimization	NOUN
fbem-31693	3	26	suggestions	suggestion	NOUN
fbem-31693	3	27	such	such	ADJ
fbem-31693	3	28	as	as	ADP
fbem-31693	3	29	improving	improve	VERB
fbem-31693	3	30	regulatory	regulatory	ADJ
fbem-31693	3	31	rules	rule	NOUN
fbem-31693	3	32	,	,	PUNCT
fbem-31693	3	33	strengthening	strengthen	VERB
fbem-31693	3	34	risk	risk	NOUN
fbem-31693	3	35	prevention	prevention	NOUN
fbem-31693	3	36	and	and	CCONJ
fbem-31693	3	37	control	control	NOUN
fbem-31693	3	38	,	,	PUNCT
fbem-31693	3	39	and	and	CCONJ
fbem-31693	3	40	promoting	promote	VERB
fbem-31693	3	41	international	international	ADJ
fbem-31693	3	42	regulatory	regulatory	ADJ
fbem-31693	3	43	cooperation	cooperation	NOUN
fbem-31693	3	44	,	,	PUNCT
fbem-31693	3	45	the	the	DET
fbem-31693	3	46	aim	aim	NOUN
fbem-31693	3	47	is	be	AUX
fbem-31693	3	48	to	to	PART
fbem-31693	3	49	provide	provide	VERB
fbem-31693	3	50	theoretical	theoretical	ADJ
fbem-31693	3	51	support	support	NOUN
fbem-31693	3	52	for	for	ADP
fbem-31693	3	53	regulatory	regulatory	ADJ
fbem-31693	3	54	agencies	agency	NOUN
fbem-31693	3	55	to	to	PART
fbem-31693	3	56	formulate	formulate	VERB
fbem-31693	3	57	scientific	scientific	ADJ
fbem-31693	3	58	and	and	CCONJ
fbem-31693	3	59	reasonable	reasonable	ADJ
fbem-31693	3	60	stablecoin	stablecoin	ADJ
fbem-31693	3	61	regulatory	regulatory	ADJ
fbem-31693	3	62	policies	policy	NOUN
fbem-31693	3	63	and	and	CCONJ
fbem-31693	3	64	maintain	maintain	VERB
fbem-31693	3	65	financial	financial	ADJ
fbem-31693	3	66	system	system	NOUN
fbem-31693	3	67	stability	stability	NOUN
fbem-31693	3	68	.	.	PUNCT
fbem-31693	4	1	keywords	keyword	NOUN
fbem-31693	4	2	:	:	PUNCT
fbem-31693	4	3	stablecoin	stablecoin	ADJ
fbem-31693	4	4	;	;	PUNCT
fbem-31693	4	5	financial	financial	ADJ
fbem-31693	4	6	system	system	NOUN
fbem-31693	4	7	risk	risk	NOUN
fbem-31693	4	8	;	;	PUNCT
fbem-31693	4	9	regulatory	regulatory	ADJ
fbem-31693	4	10	framework	framework	NOUN
fbem-31693	4	11	.	.	PUNCT
fbem-31693	5	1	1	1	X
fbem-31693	5	2	.	.	X
fbem-31693	5	3	introduction	introduction	NOUN
fbem-31693	5	4	in	in	ADP
fbem-31693	5	5	recent	recent	ADJ
fbem-31693	5	6	years	year	NOUN
fbem-31693	5	7	,	,	PUNCT
fbem-31693	5	8	the	the	DET
fbem-31693	5	9	global	global	ADJ
fbem-31693	5	10	stablecoin	stablecoin	PROPN
fbem-31693	5	11	market	market	NOUN
fbem-31693	5	12	has	have	AUX
fbem-31693	5	13	shown	show	VERB
fbem-31693	5	14	a	a	DET
fbem-31693	5	15	rapid	rapid	ADJ
fbem-31693	5	16	expansion	expansion	NOUN
fbem-31693	5	17	trend	trend	NOUN
fbem-31693	5	18	.	.	PUNCT
fbem-31693	6	1	mainstream	mainstream	NOUN
fbem-31693	6	2	stablecoins	stablecoin	NOUN
fbem-31693	6	3	represented	represent	VERB
fbem-31693	6	4	by	by	ADP
fbem-31693	6	5	usdt	usdt	NOUN
fbem-31693	6	6	,	,	PUNCT
fbem-31693	6	7	usdc	usdc	ADJ
fbem-31693	6	8	,	,	PUNCT
fbem-31693	6	9	etc	etc	X
fbem-31693	6	10	.	.	X
fbem-31693	6	11	occupy	occupy	VERB
fbem-31693	6	12	an	an	DET
fbem-31693	6	13	important	important	ADJ
fbem-31693	6	14	position	position	NOUN
fbem-31693	6	15	in	in	ADP
fbem-31693	6	16	the	the	DET
fbem-31693	6	17	field	field	NOUN
fbem-31693	6	18	of	of	ADP
fbem-31693	6	19	cryptocurrency	cryptocurrency	NOUN
fbem-31693	6	20	and	and	CCONJ
fbem-31693	6	21	related	relate	VERB
fbem-31693	6	22	financial	financial	ADJ
fbem-31693	6	23	activities	activity	NOUN
fbem-31693	6	24	.	.	PUNCT
fbem-31693	7	1	since	since	SCONJ
fbem-31693	7	2	2020	2020	NUM
fbem-31693	7	3	,	,	PUNCT
fbem-31693	7	4	the	the	DET
fbem-31693	7	5	size	size	NOUN
fbem-31693	7	6	of	of	ADP
fbem-31693	7	7	the	the	DET
fbem-31693	7	8	stablecoin	stablecoin	NOUN
fbem-31693	7	9	market	market	NOUN
fbem-31693	7	10	has	have	AUX
fbem-31693	7	11	surged	surge	VERB
fbem-31693	7	12	from	from	ADP
fbem-31693	7	13	$	$	SYM
fbem-31693	7	14	5	5	NUM
fbem-31693	7	15	billion	billion	NUM
fbem-31693	7	16	to	to	PART
fbem-31693	7	17	hundreds	hundred	NOUN
fbem-31693	7	18	of	of	ADP
fbem-31693	7	19	billions	billion	NOUN
fbem-31693	7	20	of	of	ADP
fbem-31693	7	21	dollars	dollar	NOUN
fbem-31693	7	22	today	today	NOUN
fbem-31693	7	23	,	,	PUNCT
fbem-31693	7	24	with	with	ADP
fbem-31693	7	25	a	a	DET
fbem-31693	7	26	compound	compound	ADJ
fbem-31693	7	27	annual	annual	ADJ
fbem-31693	7	28	growth	growth	NOUN
fbem-31693	7	29	rate	rate	NOUN
fbem-31693	7	30	of	of	ADP
fbem-31693	7	31	over	over	ADP
fbem-31693	7	32	100	100	NUM
fbem-31693	7	33	%	%	NOUN
fbem-31693	7	34	,	,	PUNCT
fbem-31693	7	35	and	and	CCONJ
fbem-31693	7	36	transaction	transaction	NOUN
fbem-31693	7	37	volume	volume	NOUN
fbem-31693	7	38	approaching	approach	VERB
fbem-31693	7	39	$	$	SYM
fbem-31693	7	40	37	37	NUM
fbem-31693	7	41	trillion	trillion	NUM
fbem-31693	7	42	.	.	PUNCT
fbem-31693	8	1	stablecoins	stablecoin	NOUN
fbem-31693	8	2	have	have	AUX
fbem-31693	8	3	been	be	AUX
fbem-31693	8	4	widely	widely	ADV
fbem-31693	8	5	used	use	VERB
fbem-31693	8	6	in	in	ADP
fbem-31693	8	7	cross	cross	ADJ
fbem-31693	8	8	-	-	ADJ
fbem-31693	8	9	border	border	ADJ
fbem-31693	8	10	payments	payment	NOUN
fbem-31693	8	11	,	,	PUNCT
fbem-31693	8	12	cryptocurrency	cryptocurrency	NOUN
fbem-31693	8	13	transactions	transaction	NOUN
fbem-31693	8	14	,	,	PUNCT
fbem-31693	8	15	and	and	CCONJ
fbem-31693	8	16	other	other	ADJ
fbem-31693	8	17	scenarios	scenario	NOUN
fbem-31693	8	18	.	.	PUNCT
fbem-31693	9	1	in	in	ADP
fbem-31693	9	2	terms	term	NOUN
fbem-31693	9	3	of	of	ADP
fbem-31693	9	4	cross	cross	ADJ
fbem-31693	9	5	-	-	ADJ
fbem-31693	9	6	border	border	ADJ
fbem-31693	9	7	payments	payment	NOUN
fbem-31693	9	8	,	,	PUNCT
fbem-31693	9	9	relying	rely	VERB
fbem-31693	9	10	on	on	ADP
fbem-31693	9	11	blockchain	blockchain	PROPN
fbem-31693	9	12	peer	peer	PROPN
fbem-31693	9	13	-	-	PUNCT
fbem-31693	9	14	to	to	ADP
fbem-31693	9	15	-	-	PUNCT
fbem-31693	9	16	peer	peer	NOUN
fbem-31693	9	17	transactions	transaction	NOUN
fbem-31693	9	18	,	,	PUNCT
fbem-31693	9	19	usdt	usdt	NOUN
fbem-31693	9	20	cross	cross	ADJ
fbem-31693	9	21	-	-	ADJ
fbem-31693	9	22	border	border	ADJ
fbem-31693	9	23	transfers	transfer	NOUN
fbem-31693	9	24	only	only	ADV
fbem-31693	9	25	take	take	VERB
fbem-31693	9	26	2	2	NUM
fbem-31693	9	27	minutes	minute	NOUN
fbem-31693	9	28	and	and	CCONJ
fbem-31693	9	29	cost	cost	VERB
fbem-31693	9	30	as	as	ADV
fbem-31693	9	31	low	low	ADJ
fbem-31693	9	32	as	as	ADP
fbem-31693	9	33	1	1	NUM
fbem-31693	9	34	us	us	PROPN
fbem-31693	9	35	dollar	dollar	NOUN
fbem-31693	9	36	,	,	PUNCT
fbem-31693	9	37	while	while	SCONJ
fbem-31693	9	38	traditional	traditional	ADJ
fbem-31693	9	39	wire	wire	NOUN
fbem-31693	9	40	transfers	transfer	NOUN
fbem-31693	9	41	take	take	VERB
fbem-31693	9	42	2	2	NUM
fbem-31693	9	43	-	-	SYM
fbem-31693	9	44	3	3	NUM
fbem-31693	9	45	days	day	NOUN
fbem-31693	9	46	and	and	CCONJ
fbem-31693	9	47	have	have	VERB
fbem-31693	9	48	transaction	transaction	NOUN
fbem-31693	9	49	fees	fee	NOUN
fbem-31693	9	50	as	as	ADV
fbem-31693	9	51	high	high	ADJ
fbem-31693	9	52	as	as	ADP
fbem-31693	9	53	1	1	NUM
fbem-31693	9	54	%	%	NOUN
fbem-31693	9	55	-3	-3	INTJ
fbem-31693	9	56	%	%	NOUN
fbem-31693	9	57	.	.	PUNCT
fbem-31693	10	1	the	the	DET
fbem-31693	10	2	efficient	efficient	ADJ
fbem-31693	10	3	and	and	CCONJ
fbem-31693	10	4	low	low	ADJ
fbem-31693	10	5	-	-	PUNCT
fbem-31693	10	6	cost	cost	NOUN
fbem-31693	10	7	advantages	advantage	NOUN
fbem-31693	10	8	of	of	ADP
fbem-31693	10	9	stablecoins	stablecoin	NOUN
fbem-31693	10	10	are	be	AUX
fbem-31693	10	11	fully	fully	ADV
fbem-31693	10	12	demonstrated	demonstrate	VERB
fbem-31693	10	13	.	.	PUNCT
fbem-31693	11	1	in	in	ADP
fbem-31693	11	2	cryptocurrency	cryptocurrency	NOUN
fbem-31693	11	3	trading	trading	NOUN
fbem-31693	11	4	,	,	PUNCT
fbem-31693	11	5	stablecoins	stablecoin	NOUN
fbem-31693	11	6	have	have	AUX
fbem-31693	11	7	become	become	VERB
fbem-31693	11	8	an	an	DET
fbem-31693	11	9	important	important	ADJ
fbem-31693	11	10	hedging	hedging	NOUN
fbem-31693	11	11	tool	tool	NOUN
fbem-31693	11	12	for	for	ADP
fbem-31693	11	13	investors	investor	NOUN
fbem-31693	11	14	during	during	ADP
fbem-31693	11	15	market	market	NOUN
fbem-31693	11	16	fluctuations	fluctuation	NOUN
fbem-31693	11	17	due	due	ADP
fbem-31693	11	18	to	to	ADP
fbem-31693	11	19	their	their	PRON
fbem-31693	11	20	relatively	relatively	ADV
fbem-31693	11	21	stable	stable	ADJ
fbem-31693	11	22	value	value	NOUN
fbem-31693	11	23	.	.	PUNCT
fbem-31693	12	1	they	they	PRON
fbem-31693	12	2	also	also	ADV
fbem-31693	12	3	provide	provide	VERB
fbem-31693	12	4	a	a	DET
fbem-31693	12	5	pricing	pricing	NOUN
fbem-31693	12	6	benchmark	benchmark	NOUN
fbem-31693	12	7	for	for	ADP
fbem-31693	12	8	various	various	ADJ
fbem-31693	12	9	cryptocurrency	cryptocurrency	NOUN
fbem-31693	12	10	trading	trading	NOUN
fbem-31693	12	11	pairs	pair	NOUN
fbem-31693	12	12	,	,	PUNCT
fbem-31693	12	13	making	make	VERB
fbem-31693	12	14	trading	trading	NOUN
fbem-31693	12	15	smoother	smooth	ADJ
fbem-31693	12	16	.	.	PUNCT
fbem-31693	13	1	however	however	ADV
fbem-31693	13	2	,	,	PUNCT
fbem-31693	13	3	the	the	DET
fbem-31693	13	4	rapid	rapid	ADJ
fbem-31693	13	5	development	development	NOUN
fbem-31693	13	6	of	of	ADP
fbem-31693	13	7	stablecoins	stablecoin	NOUN
fbem-31693	13	8	has	have	AUX
fbem-31693	13	9	also	also	ADV
fbem-31693	13	10	brought	bring	VERB
fbem-31693	13	11	many	many	ADJ
fbem-31693	13	12	impacts	impact	NOUN
fbem-31693	13	13	and	and	CCONJ
fbem-31693	13	14	challenges	challenge	NOUN
fbem-31693	13	15	to	to	ADP
fbem-31693	13	16	the	the	DET
fbem-31693	13	17	traditional	traditional	ADJ
fbem-31693	13	18	financial	financial	ADJ
fbem-31693	13	19	system	system	NOUN
fbem-31693	13	20	.	.	PUNCT
fbem-31693	14	1	it	it	PRON
fbem-31693	14	2	has	have	VERB
fbem-31693	14	3	to	to	ADP
fbem-31693	14	4	some	some	DET
fbem-31693	14	5	extent	extent	NOUN
fbem-31693	14	6	changed	change	VERB
fbem-31693	14	7	the	the	DET
fbem-31693	14	8	mode	mode	NOUN
fbem-31693	14	9	and	and	CCONJ
fbem-31693	14	10	process	process	NOUN
fbem-31693	14	11	of	of	ADP
fbem-31693	14	12	traditional	traditional	ADJ
fbem-31693	14	13	financial	financial	ADJ
fbem-31693	14	14	transactions	transaction	NOUN
fbem-31693	14	15	,	,	PUNCT
fbem-31693	14	16	and	and	CCONJ
fbem-31693	14	17	has	have	VERB
fbem-31693	14	18	potential	potential	ADJ
fbem-31693	14	19	impacts	impact	NOUN
fbem-31693	14	20	on	on	ADP
fbem-31693	14	21	aspects	aspect	NOUN
fbem-31693	14	22	such	such	ADJ
fbem-31693	14	23	as	as	ADP
fbem-31693	14	24	money	money	NOUN
fbem-31693	14	25	supply	supply	NOUN
fbem-31693	14	26	and	and	CCONJ
fbem-31693	14	27	monetary	monetary	ADJ
fbem-31693	14	28	policy	policy	NOUN
fbem-31693	14	29	transmission	transmission	NOUN
fbem-31693	14	30	mechanisms	mechanism	NOUN
fbem-31693	14	31	.	.	PUNCT
fbem-31693	15	1	moreover	moreover	ADV
fbem-31693	15	2	,	,	PUNCT
fbem-31693	15	3	the	the	DET
fbem-31693	15	4	regulation	regulation	NOUN
fbem-31693	15	5	of	of	ADP
fbem-31693	15	6	the	the	DET
fbem-31693	15	7	stablecoin	stablecoin	NOUN
fbem-31693	15	8	market	market	NOUN
fbem-31693	15	9	is	be	AUX
fbem-31693	15	10	not	not	PART
fbem-31693	15	11	yet	yet	ADV
fbem-31693	15	12	perfect	perfect	ADJ
fbem-31693	15	13	,	,	PUNCT
fbem-31693	15	14	and	and	CCONJ
fbem-31693	15	15	there	there	PRON
fbem-31693	15	16	are	be	VERB
fbem-31693	15	17	many	many	ADJ
fbem-31693	15	18	risks	risk	NOUN
fbem-31693	15	19	and	and	CCONJ
fbem-31693	15	20	hidden	hidden	ADJ
fbem-31693	15	21	dangers	danger	NOUN
fbem-31693	15	22	,	,	PUNCT
fbem-31693	15	23	such	such	ADJ
fbem-31693	15	24	as	as	ADP
fbem-31693	15	25	opaque	opaque	ADJ
fbem-31693	15	26	issuance	issuance	NOUN
fbem-31693	15	27	mechanisms	mechanism	NOUN
fbem-31693	15	28	and	and	CCONJ
fbem-31693	15	29	uneven	uneven	ADJ
fbem-31693	15	30	quality	quality	NOUN
fbem-31693	15	31	of	of	ADP
fbem-31693	15	32	reserve	reserve	NOUN
fbem-31693	15	33	assets	asset	NOUN
fbem-31693	15	34	,	,	PUNCT
fbem-31693	15	35	which	which	PRON
fbem-31693	15	36	may	may	AUX
fbem-31693	15	37	lead	lead	VERB
fbem-31693	15	38	to	to	ADP
fbem-31693	15	39	a	a	DET
fbem-31693	15	40	loss	loss	NOUN
fbem-31693	15	41	of	of	ADP
fbem-31693	15	42	investor	investor	NOUN
fbem-31693	15	43	confidence	confidence	NOUN
fbem-31693	15	44	and	and	CCONJ
fbem-31693	15	45	pose	pose	VERB
fbem-31693	15	46	a	a	DET
fbem-31693	15	47	threat	threat	NOUN
fbem-31693	15	48	to	to	ADP
fbem-31693	15	49	the	the	DET
fbem-31693	15	50	stable	stable	ADJ
fbem-31693	15	51	operation	operation	NOUN
fbem-31693	15	52	of	of	ADP
fbem-31693	15	53	the	the	DET
fbem-31693	15	54	financial	financial	ADJ
fbem-31693	15	55	market	market	NOUN
fbem-31693	16	1	[	[	X
fbem-31693	16	2	1	1	NUM
fbem-31693	16	3	]	]	PUNCT
fbem-31693	16	4	.	.	PUNCT
fbem-31693	17	1	2	2	X
fbem-31693	17	2	.	.	X
fbem-31693	17	3	overview	overview	NOUN
fbem-31693	17	4	of	of	ADP
fbem-31693	17	5	stablecoin	stablecoin	ADJ
fbem-31693	17	6	development	development	NOUN
fbem-31693	17	7	2.1	2.1	NUM
fbem-31693	17	8	.	.	PUNCT
fbem-31693	18	1	definition	definition	NOUN
fbem-31693	18	2	and	and	CCONJ
fbem-31693	18	3	classification	classification	NOUN
fbem-31693	18	4	of	of	ADP
fbem-31693	18	5	stablecoins	stablecoin	NOUN
fbem-31693	18	6	2.1.1	2.1.1	NUM
fbem-31693	18	7	.	.	PUNCT
fbem-31693	19	1	definition	definition	NOUN
fbem-31693	19	2	stablecoins	stablecoin	NOUN
fbem-31693	19	3	are	be	AUX
fbem-31693	19	4	a	a	DET
fbem-31693	19	5	special	special	ADJ
fbem-31693	19	6	type	type	NOUN
fbem-31693	19	7	of	of	ADP
fbem-31693	19	8	cryptocurrency	cryptocurrency	NOUN
fbem-31693	19	9	whose	whose	DET
fbem-31693	19	10	core	core	NOUN
fbem-31693	19	11	characteristic	characteristic	NOUN
fbem-31693	19	12	is	be	AUX
fbem-31693	19	13	to	to	PART
fbem-31693	19	14	achieve	achieve	VERB
fbem-31693	19	15	relative	relative	ADJ
fbem-31693	19	16	price	price	NOUN
fbem-31693	19	17	stability	stability	NOUN
fbem-31693	19	18	by	by	ADP
fbem-31693	19	19	being	be	AUX
fbem-31693	19	20	pegged	peg	VERB
fbem-31693	19	21	to	to	ADP
fbem-31693	19	22	fiat	fiat	ADJ
fbem-31693	19	23	currency	currency	NOUN
fbem-31693	19	24	,	,	PUNCT
fbem-31693	19	25	commodities	commodity	NOUN
fbem-31693	19	26	,	,	PUNCT
fbem-31693	19	27	or	or	CCONJ
fbem-31693	19	28	algorithms	algorithm	NOUN
fbem-31693	19	29	.	.	PUNCT
fbem-31693	20	1	unlike	unlike	ADP
fbem-31693	20	2	cryptocurrencies	cryptocurrencie	NOUN
fbem-31693	20	3	with	with	ADP
fbem-31693	20	4	volatile	volatile	ADJ
fbem-31693	20	5	prices	price	NOUN
fbem-31693	20	6	such	such	ADJ
fbem-31693	20	7	as	as	ADP
fbem-31693	20	8	bitcoin	bitcoin	NOUN
fbem-31693	20	9	,	,	PUNCT
fbem-31693	20	10	stablecoins	stablecoin	NOUN
fbem-31693	20	11	aim	aim	VERB
fbem-31693	20	12	to	to	PART
fbem-31693	20	13	provide	provide	VERB
fbem-31693	20	14	a	a	DET
fbem-31693	20	15	relatively	relatively	ADV
fbem-31693	20	16	stable	stable	ADJ
fbem-31693	20	17	value	value	NOUN
fbem-31693	20	18	scale	scale	NOUN
fbem-31693	20	19	and	and	CCONJ
fbem-31693	20	20	trading	trading	NOUN
fbem-31693	20	21	medium	medium	NOUN
fbem-31693	20	22	for	for	ADP
fbem-31693	20	23	the	the	DET
fbem-31693	20	24	cryptocurrency	cryptocurrency	NOUN
fbem-31693	20	25	market	market	NOUN
fbem-31693	20	26	.	.	PUNCT
fbem-31693	21	1	for	for	ADP
fbem-31693	21	2	example	example	NOUN
fbem-31693	21	3	,	,	PUNCT
fbem-31693	21	4	common	common	ADJ
fbem-31693	21	5	us	us	PROPN
fbem-31693	21	6	dollar	dollar	NOUN
fbem-31693	21	7	stablecoins	stablecoin	NOUN
fbem-31693	21	8	attempt	attempt	VERB
fbem-31693	21	9	to	to	PART
fbem-31693	21	10	maintain	maintain	VERB
fbem-31693	21	11	a	a	DET
fbem-31693	21	12	1:1	1:1	NUM
fbem-31693	21	13	exchange	exchange	NOUN
fbem-31693	21	14	ratio	ratio	NOUN
fbem-31693	21	15	with	with	ADP
fbem-31693	21	16	the	the	DET
fbem-31693	21	17	us	us	PROPN
fbem-31693	21	18	dollar	dollar	NOUN
fbem-31693	21	19	to	to	PART
fbem-31693	21	20	ensure	ensure	VERB
fbem-31693	21	21	their	their	PRON
fbem-31693	21	22	relatively	relatively	ADV
fbem-31693	21	23	stable	stable	ADJ
fbem-31693	21	24	value	value	NOUN
fbem-31693	21	25	in	in	ADP
fbem-31693	21	26	the	the	DET
fbem-31693	21	27	market	market	NOUN
fbem-31693	21	28	,	,	PUNCT
fbem-31693	21	29	allowing	allow	VERB
fbem-31693	21	30	users	user	NOUN
fbem-31693	21	31	to	to	PART
fbem-31693	21	32	reduce	reduce	VERB
fbem-31693	21	33	uncertainty	uncertainty	NOUN
fbem-31693	21	34	caused	cause	VERB
fbem-31693	21	35	by	by	ADP
fbem-31693	21	36	price	price	NOUN
fbem-31693	21	37	fluctuations	fluctuation	NOUN
fbem-31693	21	38	when	when	SCONJ
fbem-31693	21	39	trading	trade	VERB
fbem-31693	21	40	.	.	PUNCT
fbem-31693	22	1	this	this	DET
fbem-31693	22	2	price	price	NOUN
fbem-31693	22	3	stability	stability	NOUN
fbem-31693	22	4	mechanism	mechanism	NOUN
fbem-31693	22	5	makes	make	VERB
fbem-31693	22	6	stablecoins	stablecoin	NOUN
fbem-31693	22	7	play	play	VERB
fbem-31693	22	8	an	an	DET
fbem-31693	22	9	important	important	ADJ
fbem-31693	22	10	role	role	NOUN
fbem-31693	22	11	in	in	ADP
fbem-31693	22	12	the	the	DET
fbem-31693	22	13	cryptocurrency	cryptocurrency	NOUN
fbem-31693	22	14	ecosystem	ecosystem	NOUN
fbem-31693	22	15	,	,	PUNCT
fbem-31693	22	16	serving	serve	VERB
fbem-31693	22	17	as	as	ADP
fbem-31693	22	18	a	a	DET
fbem-31693	22	19	bridge	bridge	NOUN
fbem-31693	22	20	connecting	connect	VERB
fbem-31693	22	21	the	the	DET
fbem-31693	22	22	traditional	traditional	ADJ
fbem-31693	22	23	financial	financial	ADJ
fbem-31693	22	24	system	system	NOUN
fbem-31693	22	25	with	with	ADP
fbem-31693	22	26	the	the	DET
fbem-31693	22	27	cryptocurrency	cryptocurrency	NOUN
fbem-31693	22	28	field	field	NOUN
fbem-31693	22	29	.	.	PUNCT
fbem-31693	23	1	2.1.2	2.1.2	X
fbem-31693	23	2	.	.	PUNCT
fbem-31693	23	3	classification	classification	NOUN
fbem-31693	23	4	fiat	fiat	ADJ
fbem-31693	23	5	collateralized	collateralize	VERB
fbem-31693	23	6	stablecoins	stablecoin	NOUN
fbem-31693	23	7	:	:	PUNCT
fbem-31693	23	8	represented	represent	VERB
fbem-31693	23	9	by	by	ADP
fbem-31693	23	10	usdt	usdt	NOUN
fbem-31693	23	11	,	,	PUNCT
fbem-31693	23	12	this	this	DET
fbem-31693	23	13	type	type	NOUN
fbem-31693	23	14	of	of	ADP
fbem-31693	23	15	stablecoin	stablecoin	NOUN
fbem-31693	23	16	operates	operate	NOUN
fbem-31693	23	17	by	by	ADP
fbem-31693	23	18	the	the	DET
fbem-31693	23	19	issuer	issuer	NOUN
fbem-31693	23	20	promising	promise	VERB
fbem-31693	23	21	to	to	PART
fbem-31693	23	22	deposit	deposit	VERB
fbem-31693	23	23	1	1	NUM
fbem-31693	23	24	unit	unit	NOUN
fbem-31693	23	25	of	of	ADP
fbem-31693	23	26	legal	legal	ADJ
fbem-31693	23	27	tender	tender	NOUN
fbem-31693	23	28	(	(	PUNCT
fbem-31693	23	29	such	such	ADJ
fbem-31693	23	30	as	as	ADP
fbem-31693	23	31	us	us	PROPN
fbem-31693	23	32	dollars	dollar	NOUN
fbem-31693	23	33	)	)	PUNCT
fbem-31693	23	34	as	as	ADP
fbem-31693	23	35	a	a	DET
fbem-31693	23	36	reserve	reserve	NOUN
fbem-31693	23	37	in	in	ADP
fbem-31693	23	38	a	a	DET
fbem-31693	23	39	bank	bank	NOUN
fbem-31693	23	40	account	account	NOUN
fbem-31693	23	41	for	for	ADP
fbem-31693	23	42	every	every	DET
fbem-31693	23	43	1	1	NUM
fbem-31693	23	44	unit	unit	NOUN
fbem-31693	23	45	of	of	ADP
fbem-31693	23	46	stablecoin	stablecoin	NOUN
fbem-31693	23	47	issued	issue	VERB
fbem-31693	23	48	.	.	PUNCT
fbem-31693	24	1	users	user	NOUN
fbem-31693	24	2	can	can	AUX
fbem-31693	24	3	exchange	exchange	VERB
fbem-31693	24	4	stablecoins	stablecoin	NOUN
fbem-31693	24	5	back	back	ADV
fbem-31693	24	6	to	to	ADP
fbem-31693	24	7	fiat	fiat	ADJ
fbem-31693	24	8	currency	currency	NOUN
fbem-31693	24	9	in	in	ADP
fbem-31693	24	10	a	a	DET
fbem-31693	24	11	1:1	1:1	NUM
fbem-31693	24	12	ratio	ratio	NOUN
fbem-31693	24	13	when	when	SCONJ
fbem-31693	24	14	needed	need	VERB
fbem-31693	24	15	.	.	PUNCT
fbem-31693	25	1	crypto	crypto	PROPN
fbem-31693	25	2	asset	asset	NOUN
fbem-31693	25	3	collateralized	collateralize	VERB
fbem-31693	25	4	stablecoins	stablecoin	NOUN
fbem-31693	25	5	,	,	PUNCT
fbem-31693	25	6	such	such	ADJ
fbem-31693	25	7	as	as	ADP
fbem-31693	25	8	dai	dai	PROPN
fbem-31693	25	9	,	,	PUNCT
fbem-31693	25	10	are	be	AUX
fbem-31693	25	11	issued	issue	VERB
fbem-31693	25	12	by	by	ADP
fbem-31693	25	13	mortgaging	mortgage	VERB
fbem-31693	25	14	other	other	ADJ
fbem-31693	25	15	cryptocurrencies	cryptocurrencie	NOUN
fbem-31693	25	16	,	,	PUNCT
fbem-31693	25	17	such	such	ADJ
fbem-31693	25	18	as	as	ADP
fbem-31693	25	19	ethereum	ethereum	NOUN
fbem-31693	25	20	.	.	PUNCT
fbem-31693	26	1	the	the	DET
fbem-31693	26	2	specific	specific	ADJ
fbem-31693	26	3	process	process	NOUN
fbem-31693	26	4	is	be	AUX
fbem-31693	26	5	for	for	SCONJ
fbem-31693	26	6	users	user	NOUN
fbem-31693	26	7	to	to	PART
fbem-31693	26	8	deposit	deposit	VERB
fbem-31693	26	9	a	a	DET
fbem-31693	26	10	certain	certain	ADJ
fbem-31693	26	11	amount	amount	NOUN
fbem-31693	26	12	of	of	ADP
fbem-31693	26	13	encrypted	encrypt	VERB
fbem-31693	26	14	assets	asset	NOUN
fbem-31693	26	15	into	into	ADP
fbem-31693	26	16	a	a	DET
fbem-31693	26	17	smart	smart	ADJ
fbem-31693	26	18	contract	contract	NOUN
fbem-31693	26	19	as	as	ADP
fbem-31693	26	20	collateral	collateral	NOUN
fbem-31693	26	21	,	,	PUNCT
fbem-31693	26	22	and	and	CCONJ
fbem-31693	26	23	the	the	DET
fbem-31693	26	24	smart	smart	ADJ
fbem-31693	26	25	contract	contract	NOUN
fbem-31693	26	26	issues	issue	NOUN
fbem-31693	26	27	a	a	DET
fbem-31693	26	28	corresponding	corresponding	ADJ
fbem-31693	26	29	amount	amount	NOUN
fbem-31693	26	30	of	of	ADP
fbem-31693	26	31	dai	dai	PROPN
fbem-31693	26	32	based	base	VERB
fbem-31693	26	33	on	on	ADP
fbem-31693	26	34	the	the	DET
fbem-31693	26	35	value	value	NOUN
fbem-31693	26	36	of	of	ADP
fbem-31693	26	37	the	the	DET
fbem-31693	26	38	collateral	collateral	ADJ
fbem-31693	26	39	assets	asset	NOUN
fbem-31693	26	40	and	and	CCONJ
fbem-31693	26	41	the	the	DET
fbem-31693	26	42	set	set	ADJ
fbem-31693	26	43	collateral	collateral	ADJ
fbem-31693	26	44	rate	rate	NOUN
fbem-31693	26	45	.	.	PUNCT
fbem-31693	27	1	algorithmic	algorithmic	ADJ
fbem-31693	27	2	stablecoin	stablecoin	NOUN
fbem-31693	27	3	:	:	PUNCT
fbem-31693	27	4	taking	take	VERB
fbem-31693	27	5	ust	ust	PROPN
fbem-31693	27	6	as	as	ADP
fbem-31693	27	7	an	an	DET
fbem-31693	27	8	example	example	NOUN
fbem-31693	27	9	,	,	PUNCT
fbem-31693	27	10	its	its	PRON
fbem-31693	27	11	operating	operating	NOUN
fbem-31693	27	12	mechanism	mechanism	NOUN
fbem-31693	27	13	is	be	AUX
fbem-31693	27	14	based	base	VERB
fbem-31693	27	15	on	on	ADP
fbem-31693	27	16	algorithmic	algorithmic	ADJ
fbem-31693	27	17	regulation	regulation	NOUN
fbem-31693	27	18	of	of	ADP
fbem-31693	27	19	market	market	NOUN
fbem-31693	27	20	supply	supply	NOUN
fbem-31693	27	21	and	and	CCONJ
fbem-31693	27	22	demand	demand	NOUN
fbem-31693	27	23	to	to	PART
fbem-31693	27	24	maintain	maintain	VERB
fbem-31693	27	25	currency	currency	NOUN
fbem-31693	27	26	stability	stability	NOUN
fbem-31693	27	27	.	.	PUNCT
fbem-31693	28	1	when	when	SCONJ
fbem-31693	28	2	the	the	DET
fbem-31693	28	3	ust	ust	PROPN
fbem-31693	28	4	price	price	NOUN
fbem-31693	28	5	is	be	AUX
fbem-31693	28	6	higher	high	ADJ
fbem-31693	28	7	than	than	ADP
fbem-31693	28	8	the	the	DET
fbem-31693	28	9	anchor	anchor	NOUN
fbem-31693	28	10	price	price	NOUN
fbem-31693	28	11	,	,	PUNCT
fbem-31693	28	12	the	the	DET
fbem-31693	28	13	algorithm	algorithm	NOUN
fbem-31693	28	14	will	will	AUX
fbem-31693	28	15	prompt	prompt	VERB
fbem-31693	28	16	the	the	DET
fbem-31693	28	17	issuer	issuer	NOUN
fbem-31693	28	18	to	to	PART
fbem-31693	28	19	issue	issue	VERB
fbem-31693	28	20	additional	additional	ADJ
fbem-31693	28	21	ust	ust	NOUN
fbem-31693	28	22	,	,	PUNCT
fbem-31693	28	23	increase	increase	VERB
fbem-31693	28	24	market	market	NOUN
fbem-31693	28	25	supply	supply	NOUN
fbem-31693	28	26	,	,	PUNCT
fbem-31693	28	27	and	and	CCONJ
fbem-31693	28	28	thus	thus	ADV
fbem-31693	28	29	lower	lower	VERB
fbem-31693	28	30	the	the	DET
fbem-31693	28	31	price	price	NOUN
fbem-31693	28	32	;	;	PUNCT
fbem-31693	28	33	on	on	ADP
fbem-31693	28	34	the	the	DET
fbem-31693	28	35	contrary	contrary	NOUN
fbem-31693	28	36	,	,	PUNCT
fbem-31693	28	37	when	when	SCONJ
fbem-31693	28	38	the	the	DET
fbem-31693	28	39	price	price	NOUN
fbem-31693	28	40	is	be	AUX
fbem-31693	28	41	lower	low	ADJ
fbem-31693	28	42	than	than	ADP
fbem-31693	28	43	the	the	DET
fbem-31693	28	44	anchor	anchor	NOUN
fbem-31693	28	45	price	price	NOUN
fbem-31693	28	46	,	,	PUNCT
fbem-31693	28	47	the	the	DET
fbem-31693	28	48	algorithm	algorithm	NOUN
fbem-31693	28	49	will	will	AUX
fbem-31693	28	50	guide	guide	VERB
fbem-31693	28	51	users	user	NOUN
fbem-31693	28	52	to	to	PART
fbem-31693	28	53	exchange	exchange	VERB
fbem-31693	28	54	ust	ust	PROPN
fbem-31693	28	55	for	for	ADP
fbem-31693	28	56	other	other	ADJ
fbem-31693	28	57	assets	asset	NOUN
fbem-31693	28	58	,	,	PUNCT
fbem-31693	28	59	reducing	reduce	VERB
fbem-31693	28	60	market	market	NOUN
fbem-31693	28	61	supply	supply	NOUN
fbem-31693	28	62	and	and	CCONJ
fbem-31693	28	63	causing	cause	VERB
fbem-31693	28	64	prices	price	NOUN
fbem-31693	28	65	to	to	PART
fbem-31693	28	66	rise	rise	VERB
fbem-31693	28	67	[	[	X
fbem-31693	28	68	2	2	NUM
fbem-31693	28	69	]	]	PUNCT
fbem-31693	28	70	.	.	PUNCT
fbem-31693	29	1	2.2	2.2	NUM
fbem-31693	29	2	.	.	PUNCT
fbem-31693	29	3	development	development	NOUN
fbem-31693	29	4	status	status	NOUN
fbem-31693	29	5	and	and	CCONJ
fbem-31693	29	6	trends	trend	NOUN
fbem-31693	29	7	of	of	ADP
fbem-31693	29	8	stablecoins	stablecoin	NOUN
fbem-31693	29	9	2.2.1	2.2.1	NUM
fbem-31693	29	10	.	.	PUNCT
fbem-31693	29	11	market	market	NOUN
fbem-31693	29	12	size	size	NOUN
fbem-31693	29	13	and	and	CCONJ
fbem-31693	29	14	application	application	NOUN
fbem-31693	29	15	scenarios	scenario	NOUN
fbem-31693	29	16	the	the	DET
fbem-31693	29	17	global	global	ADJ
fbem-31693	29	18	stablecoin	stablecoin	NOUN
fbem-31693	29	19	market	market	NOUN
fbem-31693	29	20	is	be	AUX
fbem-31693	29	21	showing	show	VERB
fbem-31693	29	22	a	a	DET
fbem-31693	29	23	continuous	continuous	ADJ
fbem-31693	29	24	2	2	NUM
fbem-31693	29	25	growth	growth	NOUN
fbem-31693	29	26	trend	trend	NOUN
fbem-31693	29	27	.	.	PUNCT
fbem-31693	30	1	currently	currently	ADV
fbem-31693	30	2	,	,	PUNCT
fbem-31693	30	3	over	over	ADP
fbem-31693	30	4	95	95	NUM
fbem-31693	30	5	%	%	NOUN
fbem-31693	30	6	of	of	ADP
fbem-31693	30	7	stablecoins	stablecoin	NOUN
fbem-31693	30	8	worldwide	worldwide	ADV
fbem-31693	30	9	are	be	AUX
fbem-31693	30	10	us	us	PROPN
fbem-31693	30	11	dollar	dollar	NOUN
fbem-31693	30	12	stablecoins	stablecoin	NOUN
fbem-31693	30	13	,	,	PUNCT
fbem-31693	30	14	which	which	PRON
fbem-31693	30	15	dominate	dominate	VERB
fbem-31693	30	16	the	the	DET
fbem-31693	30	17	market	market	NOUN
fbem-31693	30	18	.	.	PUNCT
fbem-31693	31	1	stablecoins	stablecoin	NOUN
fbem-31693	31	2	have	have	AUX
fbem-31693	31	3	been	be	AUX
fbem-31693	31	4	widely	widely	ADV
fbem-31693	31	5	used	use	VERB
fbem-31693	31	6	in	in	ADP
fbem-31693	31	7	multiple	multiple	ADJ
fbem-31693	31	8	fields	field	NOUN
fbem-31693	31	9	.	.	PUNCT
fbem-31693	32	1	in	in	ADP
fbem-31693	32	2	the	the	DET
fbem-31693	32	3	field	field	NOUN
fbem-31693	32	4	of	of	ADP
fbem-31693	32	5	decentralized	decentralized	ADJ
fbem-31693	32	6	finance	finance	NOUN
fbem-31693	32	7	(	(	PUNCT
fbem-31693	32	8	defi	defi	PROPN
fbem-31693	32	9	)	)	PUNCT
fbem-31693	32	10	,	,	PUNCT
fbem-31693	32	11	stablecoins	stablecoin	NOUN
fbem-31693	32	12	serve	serve	VERB
fbem-31693	32	13	as	as	ADP
fbem-31693	32	14	the	the	DET
fbem-31693	32	15	fundamental	fundamental	ADJ
fbem-31693	32	16	trading	trading	NOUN
fbem-31693	32	17	medium	medium	ADJ
fbem-31693	32	18	and	and	CCONJ
fbem-31693	32	19	value	value	NOUN
fbem-31693	32	20	storage	storage	NOUN
fbem-31693	32	21	tool	tool	NOUN
fbem-31693	32	22	,	,	PUNCT
fbem-31693	32	23	supporting	support	VERB
fbem-31693	32	24	the	the	DET
fbem-31693	32	25	operation	operation	NOUN
fbem-31693	32	26	of	of	ADP
fbem-31693	32	27	various	various	ADJ
fbem-31693	32	28	defi	defi	NOUN
fbem-31693	32	29	applications	application	NOUN
fbem-31693	32	30	such	such	ADJ
fbem-31693	32	31	as	as	ADP
fbem-31693	32	32	lending	lending	NOUN
fbem-31693	32	33	,	,	PUNCT
fbem-31693	32	34	trading	trading	NOUN
fbem-31693	32	35	,	,	PUNCT
fbem-31693	32	36	and	and	CCONJ
fbem-31693	32	37	liquidity	liquidity	NOUN
fbem-31693	32	38	mining	mining	NOUN
fbem-31693	32	39	.	.	PUNCT
fbem-31693	33	1	in	in	ADP
fbem-31693	33	2	cross	cross	ADJ
fbem-31693	33	3	-	-	ADJ
fbem-31693	33	4	border	border	ADJ
fbem-31693	33	5	ecommerce	ecommerce	NOUN
fbem-31693	33	6	payments	payment	NOUN
fbem-31693	33	7	,	,	PUNCT
fbem-31693	33	8	stablecoins	stablecoin	NOUN
fbem-31693	33	9	provide	provide	VERB
fbem-31693	33	10	more	more	ADV
fbem-31693	33	11	convenient	convenient	ADJ
fbem-31693	33	12	payment	payment	NOUN
fbem-31693	33	13	methods	method	NOUN
fbem-31693	33	14	for	for	ADP
fbem-31693	33	15	cross	cross	ADJ
fbem-31693	33	16	-	-	ADJ
fbem-31693	33	17	border	border	ADJ
fbem-31693	33	18	e	e	PROPN
fbem-31693	33	19	-	-	NOUN
fbem-31693	33	20	commerce	commerce	NOUN
fbem-31693	33	21	enterprises	enterprise	NOUN
fbem-31693	33	22	and	and	CCONJ
fbem-31693	33	23	consumers	consumer	NOUN
fbem-31693	33	24	due	due	ADP
fbem-31693	33	25	to	to	ADP
fbem-31693	33	26	their	their	PRON
fbem-31693	33	27	fast	fast	ADJ
fbem-31693	33	28	and	and	CCONJ
fbem-31693	33	29	low	low	ADJ
fbem-31693	33	30	-	-	PUNCT
fbem-31693	33	31	cost	cost	NOUN
fbem-31693	33	32	cross	cross	ADJ
fbem-31693	33	33	-	-	ADJ
fbem-31693	33	34	border	border	ADJ
fbem-31693	33	35	transfer	transfer	NOUN
fbem-31693	33	36	advantages	advantage	NOUN
fbem-31693	33	37	.	.	PUNCT
fbem-31693	34	1	especially	especially	ADV
fbem-31693	34	2	in	in	ADP
fbem-31693	34	3	some	some	DET
fbem-31693	34	4	emerging	emerge	VERB
fbem-31693	34	5	market	market	NOUN
fbem-31693	34	6	countries	country	NOUN
fbem-31693	34	7	,	,	PUNCT
fbem-31693	34	8	the	the	DET
fbem-31693	34	9	use	use	NOUN
fbem-31693	34	10	of	of	ADP
fbem-31693	34	11	stablecoins	stablecoin	NOUN
fbem-31693	34	12	helps	help	VERB
fbem-31693	34	13	to	to	PART
fbem-31693	34	14	solve	solve	VERB
fbem-31693	34	15	the	the	DET
fbem-31693	34	16	problems	problem	NOUN
fbem-31693	34	17	of	of	ADP
fbem-31693	34	18	cumbersome	cumbersome	ADJ
fbem-31693	34	19	procedures	procedure	NOUN
fbem-31693	34	20	and	and	CCONJ
fbem-31693	34	21	high	high	ADJ
fbem-31693	34	22	fees	fee	NOUN
fbem-31693	34	23	in	in	ADP
fbem-31693	34	24	traditional	traditional	ADJ
fbem-31693	34	25	crossborder	crossborder	NOUN
fbem-31693	34	26	payments	payment	NOUN
fbem-31693	34	27	.	.	PUNCT
fbem-31693	35	1	in	in	ADP
fbem-31693	35	2	terms	term	NOUN
fbem-31693	35	3	of	of	ADP
fbem-31693	35	4	international	international	ADJ
fbem-31693	35	5	capital	capital	NOUN
fbem-31693	35	6	flows	flow	NOUN
fbem-31693	35	7	,	,	PUNCT
fbem-31693	35	8	stablecoins	stablecoin	NOUN
fbem-31693	35	9	also	also	ADV
fbem-31693	35	10	provide	provide	VERB
fbem-31693	35	11	investors	investor	NOUN
fbem-31693	35	12	with	with	ADP
fbem-31693	35	13	a	a	DET
fbem-31693	35	14	new	new	ADJ
fbem-31693	35	15	channel	channel	NOUN
fbem-31693	35	16	for	for	ADP
fbem-31693	35	17	fund	fund	NOUN
fbem-31693	35	18	transfer	transfer	NOUN
fbem-31693	35	19	,	,	PUNCT
fbem-31693	35	20	which	which	PRON
fbem-31693	35	21	to	to	ADP
fbem-31693	35	22	some	some	DET
fbem-31693	35	23	extent	extent	NOUN
fbem-31693	35	24	avoids	avoid	VERB
fbem-31693	35	25	the	the	DET
fbem-31693	35	26	strict	strict	ADJ
fbem-31693	35	27	supervision	supervision	NOUN
fbem-31693	35	28	and	and	CCONJ
fbem-31693	35	29	cumbersome	cumbersome	ADJ
fbem-31693	35	30	processes	process	NOUN
fbem-31693	35	31	in	in	ADP
fbem-31693	35	32	traditional	traditional	ADJ
fbem-31693	35	33	financial	financial	ADJ
fbem-31693	35	34	systems	system	NOUN
fbem-31693	35	35	,	,	PUNCT
fbem-31693	35	36	and	and	CCONJ
fbem-31693	35	37	improves	improve	VERB
fbem-31693	35	38	the	the	DET
fbem-31693	35	39	efficiency	efficiency	NOUN
fbem-31693	35	40	of	of	ADP
fbem-31693	35	41	cross	cross	ADJ
fbem-31693	35	42	-	-	ADJ
fbem-31693	35	43	border	border	ADJ
fbem-31693	35	44	fund	fund	NOUN
fbem-31693	35	45	flows	flow	VERB
fbem-31693	35	46	[	[	X
fbem-31693	35	47	3	3	NUM
fbem-31693	35	48	]	]	PUNCT
fbem-31693	35	49	.	.	PUNCT
fbem-31693	36	1	2.2.2	2.2.2	X
fbem-31693	36	2	.	.	PUNCT
fbem-31693	37	1	development	development	NOUN
fbem-31693	37	2	trends	trend	NOUN
fbem-31693	37	3	technological	technological	ADJ
fbem-31693	37	4	innovation	innovation	NOUN
fbem-31693	37	5	:	:	PUNCT
fbem-31693	37	6	with	with	ADP
fbem-31693	37	7	the	the	DET
fbem-31693	37	8	continuous	continuous	ADJ
fbem-31693	37	9	upgrading	upgrading	NOUN
fbem-31693	37	10	of	of	ADP
fbem-31693	37	11	blockchain	blockchain	PROPN
fbem-31693	37	12	technology	technology	PROPN
fbem-31693	37	13	,	,	PUNCT
fbem-31693	37	14	stablecoins	stablecoin	NOUN
fbem-31693	37	15	will	will	AUX
fbem-31693	37	16	benefit	benefit	VERB
fbem-31693	37	17	from	from	ADP
fbem-31693	37	18	more	more	ADV
fbem-31693	37	19	efficient	efficient	ADJ
fbem-31693	37	20	and	and	CCONJ
fbem-31693	37	21	secure	secure	VERB
fbem-31693	37	22	blockchain	blockchain	PROPN
fbem-31693	37	23	infrastructure	infrastructure	NOUN
fbem-31693	37	24	.	.	PUNCT
fbem-31693	38	1	for	for	ADP
fbem-31693	38	2	example	example	NOUN
fbem-31693	38	3	,	,	PUNCT
fbem-31693	38	4	future	future	ADJ
fbem-31693	38	5	blockchain	blockchain	PROPN
fbem-31693	38	6	technology	technology	PROPN
fbem-31693	38	7	is	be	AUX
fbem-31693	38	8	expected	expect	VERB
fbem-31693	38	9	to	to	PART
fbem-31693	38	10	achieve	achieve	VERB
fbem-31693	38	11	faster	fast	ADJ
fbem-31693	38	12	transaction	transaction	NOUN
fbem-31693	38	13	confirmation	confirmation	NOUN
fbem-31693	38	14	speeds	speed	NOUN
fbem-31693	38	15	,	,	PUNCT
fbem-31693	38	16	lower	low	ADJ
fbem-31693	38	17	transaction	transaction	NOUN
fbem-31693	38	18	costs	cost	NOUN
fbem-31693	38	19	,	,	PUNCT
fbem-31693	38	20	and	and	CCONJ
fbem-31693	38	21	stronger	strong	ADJ
fbem-31693	38	22	privacy	privacy	NOUN
fbem-31693	38	23	protection	protection	NOUN
fbem-31693	38	24	features	feature	NOUN
fbem-31693	38	25	,	,	PUNCT
fbem-31693	38	26	which	which	PRON
fbem-31693	38	27	will	will	AUX
fbem-31693	38	28	further	far	ADV
fbem-31693	38	29	enhance	enhance	VERB
fbem-31693	38	30	the	the	DET
fbem-31693	38	31	user	user	NOUN
fbem-31693	38	32	experience	experience	NOUN
fbem-31693	38	33	and	and	CCONJ
fbem-31693	38	34	market	market	NOUN
fbem-31693	38	35	competitiveness	competitiveness	NOUN
fbem-31693	38	36	of	of	ADP
fbem-31693	38	37	stablecoins	stablecoin	NOUN
fbem-31693	38	38	.	.	PUNCT
fbem-31693	39	1	the	the	DET
fbem-31693	39	2	new	new	ADJ
fbem-31693	39	3	consensus	consensus	NOUN
fbem-31693	39	4	mechanism	mechanism	NOUN
fbem-31693	39	5	may	may	AUX
fbem-31693	39	6	be	be	AUX
fbem-31693	39	7	applied	apply	VERB
fbem-31693	39	8	to	to	ADP
fbem-31693	39	9	the	the	DET
fbem-31693	39	10	blockchain	blockchain	PROPN
fbem-31693	39	11	platform	platform	NOUN
fbem-31693	39	12	of	of	ADP
fbem-31693	39	13	stablecoins	stablecoin	NOUN
fbem-31693	39	14	to	to	PART
fbem-31693	39	15	improve	improve	VERB
fbem-31693	39	16	the	the	DET
fbem-31693	39	17	scalability	scalability	NOUN
fbem-31693	39	18	and	and	CCONJ
fbem-31693	39	19	stability	stability	NOUN
fbem-31693	39	20	of	of	ADP
fbem-31693	39	21	the	the	DET
fbem-31693	39	22	system	system	NOUN
fbem-31693	39	23	,	,	PUNCT
fbem-31693	39	24	ensuring	ensure	VERB
fbem-31693	39	25	that	that	SCONJ
fbem-31693	39	26	stablecoins	stablecoin	NOUN
fbem-31693	39	27	can	can	AUX
fbem-31693	39	28	still	still	ADV
fbem-31693	39	29	operate	operate	VERB
fbem-31693	39	30	normally	normally	ADV
fbem-31693	39	31	in	in	ADP
fbem-31693	39	32	large	large	ADJ
fbem-31693	39	33	-	-	PUNCT
fbem-31693	39	34	scale	scale	NOUN
fbem-31693	39	35	trading	trading	NOUN
fbem-31693	39	36	scenarios	scenario	NOUN
fbem-31693	39	37	.	.	PUNCT
fbem-31693	40	1	compliance	compliance	NOUN
fbem-31693	40	2	development	development	NOUN
fbem-31693	40	3	:	:	PUNCT
fbem-31693	40	4	with	with	ADP
fbem-31693	40	5	the	the	DET
fbem-31693	40	6	continuous	continuous	ADJ
fbem-31693	40	7	expansion	expansion	NOUN
fbem-31693	40	8	of	of	ADP
fbem-31693	40	9	the	the	DET
fbem-31693	40	10	stablecoin	stablecoin	NOUN
fbem-31693	40	11	market	market	NOUN
fbem-31693	40	12	and	and	CCONJ
fbem-31693	40	13	the	the	DET
fbem-31693	40	14	deepening	deepening	NOUN
fbem-31693	40	15	impact	impact	NOUN
fbem-31693	40	16	on	on	ADP
fbem-31693	40	17	the	the	DET
fbem-31693	40	18	financial	financial	ADJ
fbem-31693	40	19	system	system	NOUN
fbem-31693	40	20	,	,	PUNCT
fbem-31693	40	21	regulatory	regulatory	ADJ
fbem-31693	40	22	agencies	agency	NOUN
fbem-31693	40	23	in	in	ADP
fbem-31693	40	24	various	various	ADJ
fbem-31693	40	25	countries	country	NOUN
fbem-31693	40	26	continue	continue	VERB
fbem-31693	40	27	to	to	PART
fbem-31693	40	28	pay	pay	VERB
fbem-31693	40	29	more	more	ADJ
fbem-31693	40	30	attention	attention	NOUN
fbem-31693	40	31	to	to	ADP
fbem-31693	40	32	stablecoins	stablecoin	NOUN
fbem-31693	40	33	,	,	PUNCT
fbem-31693	40	34	and	and	CCONJ
fbem-31693	40	35	compliance	compliance	NOUN
fbem-31693	40	36	has	have	AUX
fbem-31693	40	37	become	become	VERB
fbem-31693	40	38	an	an	DET
fbem-31693	40	39	inevitable	inevitable	ADJ
fbem-31693	40	40	trend	trend	NOUN
fbem-31693	40	41	in	in	ADP
fbem-31693	40	42	the	the	DET
fbem-31693	40	43	development	development	NOUN
fbem-31693	40	44	of	of	ADP
fbem-31693	40	45	stablecoins	stablecoin	NOUN
fbem-31693	40	46	.	.	PUNCT
fbem-31693	41	1	the	the	DET
fbem-31693	41	2	united	united	PROPN
fbem-31693	41	3	states	states	PROPN
fbem-31693	41	4	,	,	PUNCT
fbem-31693	41	5	the	the	DET
fbem-31693	41	6	european	european	PROPN
fbem-31693	41	7	union	union	PROPN
fbem-31693	41	8	,	,	PUNCT
fbem-31693	41	9	china	china	PROPN
fbem-31693	41	10	and	and	CCONJ
fbem-31693	41	11	other	other	ADJ
fbem-31693	41	12	countries	country	NOUN
fbem-31693	41	13	and	and	CCONJ
fbem-31693	41	14	regions	region	NOUN
fbem-31693	41	15	have	have	AUX
fbem-31693	41	16	successively	successively	ADV
fbem-31693	41	17	introduced	introduce	VERB
fbem-31693	41	18	relevant	relevant	ADJ
fbem-31693	41	19	regulatory	regulatory	ADJ
fbem-31693	41	20	policies	policy	NOUN
fbem-31693	41	21	to	to	PART
fbem-31693	41	22	regulate	regulate	VERB
fbem-31693	41	23	the	the	DET
fbem-31693	41	24	issuance	issuance	NOUN
fbem-31693	41	25	,	,	PUNCT
fbem-31693	41	26	trading	trading	NOUN
fbem-31693	41	27	,	,	PUNCT
fbem-31693	41	28	operation	operation	NOUN
fbem-31693	41	29	and	and	CCONJ
fbem-31693	41	30	other	other	ADJ
fbem-31693	41	31	aspects	aspect	NOUN
fbem-31693	41	32	of	of	ADP
fbem-31693	41	33	stablecoins	stablecoin	NOUN
fbem-31693	41	34	.	.	PUNCT
fbem-31693	42	1	in	in	ADP
fbem-31693	42	2	the	the	DET
fbem-31693	42	3	future	future	NOUN
fbem-31693	42	4	,	,	PUNCT
fbem-31693	42	5	stablecoin	stablecoin	ADJ
fbem-31693	42	6	issuers	issuer	NOUN
fbem-31693	42	7	will	will	AUX
fbem-31693	42	8	need	need	VERB
fbem-31693	42	9	to	to	PART
fbem-31693	42	10	strictly	strictly	ADV
fbem-31693	42	11	comply	comply	VERB
fbem-31693	42	12	with	with	ADP
fbem-31693	42	13	regulatory	regulatory	ADJ
fbem-31693	42	14	requirements	requirement	NOUN
fbem-31693	42	15	,	,	PUNCT
fbem-31693	42	16	strengthen	strengthen	VERB
fbem-31693	42	17	information	information	NOUN
fbem-31693	42	18	disclosure	disclosure	NOUN
fbem-31693	42	19	,	,	PUNCT
fbem-31693	42	20	risk	risk	NOUN
fbem-31693	42	21	prevention	prevention	NOUN
fbem-31693	42	22	and	and	CCONJ
fbem-31693	42	23	control	control	NOUN
fbem-31693	42	24	,	,	PUNCT
fbem-31693	42	25	and	and	CCONJ
fbem-31693	42	26	investor	investor	NOUN
fbem-31693	42	27	protection	protection	NOUN
fbem-31693	42	28	,	,	PUNCT
fbem-31693	42	29	in	in	ADP
fbem-31693	42	30	order	order	NOUN
fbem-31693	42	31	to	to	PART
fbem-31693	42	32	obtain	obtain	VERB
fbem-31693	42	33	legal	legal	ADJ
fbem-31693	42	34	and	and	CCONJ
fbem-31693	42	35	compliant	compliant	ADJ
fbem-31693	42	36	operating	operating	NOUN
fbem-31693	42	37	qualifications	qualification	NOUN
fbem-31693	42	38	.	.	PUNCT
fbem-31693	43	1	global	global	ADJ
fbem-31693	43	2	regulatory	regulatory	ADJ
fbem-31693	43	3	coordination	coordination	NOUN
fbem-31693	43	4	:	:	PUNCT
fbem-31693	43	5	due	due	ADP
fbem-31693	43	6	to	to	ADP
fbem-31693	43	7	the	the	DET
fbem-31693	43	8	cross	cross	ADJ
fbem-31693	43	9	-	-	ADJ
fbem-31693	43	10	border	border	ADJ
fbem-31693	43	11	issuance	issuance	NOUN
fbem-31693	43	12	and	and	CCONJ
fbem-31693	43	13	circulation	circulation	NOUN
fbem-31693	43	14	characteristics	characteristic	NOUN
fbem-31693	43	15	of	of	ADP
fbem-31693	43	16	stablecoins	stablecoin	NOUN
fbem-31693	43	17	,	,	PUNCT
fbem-31693	43	18	it	it	PRON
fbem-31693	43	19	is	be	AUX
fbem-31693	43	20	difficult	difficult	ADJ
fbem-31693	43	21	for	for	SCONJ
fbem-31693	43	22	a	a	DET
fbem-31693	43	23	single	single	ADJ
fbem-31693	43	24	country	country	NOUN
fbem-31693	43	25	or	or	CCONJ
fbem-31693	43	26	region	region	NOUN
fbem-31693	43	27	to	to	PART
fbem-31693	43	28	effectively	effectively	ADV
fbem-31693	43	29	address	address	VERB
fbem-31693	43	30	the	the	DET
fbem-31693	43	31	risks	risk	NOUN
fbem-31693	43	32	they	they	PRON
fbem-31693	43	33	bring	bring	VERB
fbem-31693	43	34	.	.	PUNCT
fbem-31693	44	1	therefore	therefore	ADV
fbem-31693	44	2	,	,	PUNCT
fbem-31693	44	3	international	international	ADJ
fbem-31693	44	4	organizations	organization	NOUN
fbem-31693	44	5	such	such	ADJ
fbem-31693	44	6	as	as	ADP
fbem-31693	44	7	the	the	DET
fbem-31693	44	8	international	international	ADJ
fbem-31693	44	9	monetary	monetary	ADJ
fbem-31693	44	10	fund	fund	NOUN
fbem-31693	44	11	and	and	CCONJ
fbem-31693	44	12	the	the	DET
fbem-31693	44	13	financial	financial	ADJ
fbem-31693	44	14	stability	stability	PROPN
fbem-31693	44	15	board	board	NOUN
fbem-31693	44	16	actively	actively	ADV
fbem-31693	44	17	promote	promote	VERB
fbem-31693	44	18	global	global	ADJ
fbem-31693	44	19	regulatory	regulatory	ADJ
fbem-31693	44	20	coordination	coordination	NOUN
fbem-31693	44	21	.	.	PUNCT
fbem-31693	45	1	in	in	ADP
fbem-31693	45	2	the	the	DET
fbem-31693	45	3	future	future	NOUN
fbem-31693	45	4	,	,	PUNCT
fbem-31693	45	5	countries	country	NOUN
fbem-31693	45	6	will	will	AUX
fbem-31693	45	7	strengthen	strengthen	VERB
fbem-31693	45	8	cooperation	cooperation	NOUN
fbem-31693	45	9	in	in	ADP
fbem-31693	45	10	the	the	DET
fbem-31693	45	11	development	development	NOUN
fbem-31693	45	12	of	of	ADP
fbem-31693	45	13	stablecoin	stablecoin	ADJ
fbem-31693	45	14	regulatory	regulatory	ADJ
fbem-31693	45	15	standards	standard	NOUN
fbem-31693	45	16	,	,	PUNCT
fbem-31693	45	17	information	information	NOUN
fbem-31693	45	18	sharing	sharing	NOUN
fbem-31693	45	19	,	,	PUNCT
fbem-31693	45	20	cross	cross	ADJ
fbem-31693	45	21	-	-	ADJ
fbem-31693	45	22	border	border	ADJ
fbem-31693	45	23	regulatory	regulatory	ADJ
fbem-31693	45	24	enforcement	enforcement	NOUN
fbem-31693	45	25	,	,	PUNCT
fbem-31693	45	26	and	and	CCONJ
fbem-31693	45	27	jointly	jointly	ADV
fbem-31693	45	28	build	build	VERB
fbem-31693	45	29	a	a	DET
fbem-31693	45	30	unified	unified	ADJ
fbem-31693	45	31	and	and	CCONJ
fbem-31693	45	32	coordinated	coordinated	ADJ
fbem-31693	45	33	global	global	ADJ
fbem-31693	45	34	stablecoin	stablecoin	ADJ
fbem-31693	45	35	regulatory	regulatory	ADJ
fbem-31693	45	36	framework	framework	NOUN
fbem-31693	45	37	to	to	PART
fbem-31693	45	38	reduce	reduce	VERB
fbem-31693	45	39	regulatory	regulatory	ADJ
fbem-31693	45	40	arbitrage	arbitrage	NOUN
fbem-31693	45	41	space	space	NOUN
fbem-31693	45	42	and	and	CCONJ
fbem-31693	45	43	effectively	effectively	ADV
fbem-31693	45	44	prevent	prevent	VERB
fbem-31693	45	45	stablecoin	stablecoin	NOUN
fbem-31693	45	46	crossborder	crossborder	NOUN
fbem-31693	45	47	risks	risk	NOUN
fbem-31693	45	48	[	[	X
fbem-31693	45	49	4	4	NUM
fbem-31693	45	50	]	]	PUNCT
fbem-31693	45	51	.	.	PUNCT
fbem-31693	46	1	3	3	X
fbem-31693	46	2	.	.	X
fbem-31693	46	3	the	the	DET
fbem-31693	46	4	impact	impact	NOUN
fbem-31693	46	5	mechanism	mechanism	NOUN
fbem-31693	46	6	of	of	ADP
fbem-31693	46	7	stablecoin	stablecoin	ADJ
fbem-31693	46	8	development	development	NOUN
fbem-31693	46	9	on	on	ADP
fbem-31693	46	10	financial	financial	ADJ
fbem-31693	46	11	system	system	NOUN
fbem-31693	46	12	risks	risk	VERB
fbem-31693	46	13	3.1	3.1	NUM
fbem-31693	46	14	.	.	PUNCT
fbem-31693	47	1	liquidity	liquidity	NOUN
fbem-31693	47	2	risk	risk	NOUN
fbem-31693	47	3	if	if	SCONJ
fbem-31693	47	4	the	the	DET
fbem-31693	47	5	issuance	issuance	NOUN
fbem-31693	47	6	mechanism	mechanism	NOUN
fbem-31693	47	7	of	of	ADP
fbem-31693	47	8	stablecoins	stablecoin	NOUN
fbem-31693	47	9	is	be	AUX
fbem-31693	47	10	opaque	opaque	ADJ
fbem-31693	47	11	,	,	PUNCT
fbem-31693	47	12	investors	investor	NOUN
fbem-31693	47	13	may	may	AUX
fbem-31693	47	14	find	find	VERB
fbem-31693	47	15	it	it	PRON
fbem-31693	47	16	difficult	difficult	ADJ
fbem-31693	47	17	to	to	PART
fbem-31693	47	18	accurately	accurately	ADV
fbem-31693	47	19	understand	understand	VERB
fbem-31693	47	20	the	the	DET
fbem-31693	47	21	true	true	ADJ
fbem-31693	47	22	situation	situation	NOUN
fbem-31693	47	23	of	of	ADP
fbem-31693	47	24	their	their	PRON
fbem-31693	47	25	reserve	reserve	NOUN
fbem-31693	47	26	assets	asset	NOUN
fbem-31693	47	27	.	.	PUNCT
fbem-31693	48	1	when	when	SCONJ
fbem-31693	48	2	there	there	PRON
fbem-31693	48	3	is	be	VERB
fbem-31693	48	4	negative	negative	ADJ
fbem-31693	48	5	news	news	NOUN
fbem-31693	48	6	in	in	ADP
fbem-31693	48	7	the	the	DET
fbem-31693	48	8	market	market	NOUN
fbem-31693	48	9	or	or	CCONJ
fbem-31693	48	10	investor	investor	NOUN
fbem-31693	48	11	confidence	confidence	NOUN
fbem-31693	48	12	is	be	AUX
fbem-31693	48	13	dampened	dampen	VERB
fbem-31693	48	14	,	,	PUNCT
fbem-31693	48	15	it	it	PRON
fbem-31693	48	16	may	may	AUX
fbem-31693	48	17	trigger	trigger	VERB
fbem-31693	48	18	a	a	DET
fbem-31693	48	19	crisis	crisis	NOUN
fbem-31693	48	20	of	of	ADP
fbem-31693	48	21	trust	trust	NOUN
fbem-31693	48	22	in	in	ADP
fbem-31693	48	23	stablecoins	stablecoin	NOUN
fbem-31693	48	24	.	.	PUNCT
fbem-31693	49	1	for	for	ADP
fbem-31693	49	2	example	example	NOUN
fbem-31693	49	3	,	,	PUNCT
fbem-31693	49	4	if	if	SCONJ
fbem-31693	49	5	there	there	PRON
fbem-31693	49	6	are	be	VERB
fbem-31693	49	7	rumors	rumor	NOUN
fbem-31693	49	8	that	that	SCONJ
fbem-31693	49	9	the	the	DET
fbem-31693	49	10	reserve	reserve	NOUN
fbem-31693	49	11	assets	asset	NOUN
fbem-31693	49	12	of	of	ADP
fbem-31693	49	13	a	a	DET
fbem-31693	49	14	stablecoin	stablecoin	ADJ
fbem-31693	49	15	issuer	issuer	NOUN
fbem-31693	49	16	are	be	AUX
fbem-31693	49	17	insufficient	insufficient	ADJ
fbem-31693	49	18	to	to	PART
fbem-31693	49	19	support	support	VERB
fbem-31693	49	20	the	the	DET
fbem-31693	49	21	redemption	redemption	NOUN
fbem-31693	49	22	of	of	ADP
fbem-31693	49	23	all	all	DET
fbem-31693	49	24	its	its	PRON
fbem-31693	49	25	stablecoins	stablecoin	NOUN
fbem-31693	49	26	,	,	PUNCT
fbem-31693	49	27	investors	investor	NOUN
fbem-31693	49	28	may	may	AUX
fbem-31693	49	29	demand	demand	VERB
fbem-31693	49	30	to	to	PART
fbem-31693	49	31	exchange	exchange	VERB
fbem-31693	49	32	their	their	PRON
fbem-31693	49	33	stablecoins	stablecoin	NOUN
fbem-31693	49	34	back	back	ADV
fbem-31693	49	35	into	into	ADP
fbem-31693	49	36	fiat	fiat	ADJ
fbem-31693	49	37	currency	currency	NOUN
fbem-31693	49	38	or	or	CCONJ
fbem-31693	49	39	other	other	ADJ
fbem-31693	49	40	safe	safe	ADJ
fbem-31693	49	41	assets	asset	NOUN
fbem-31693	49	42	,	,	PUNCT
fbem-31693	49	43	leading	lead	VERB
fbem-31693	49	44	to	to	ADP
fbem-31693	49	45	a	a	DET
fbem-31693	49	46	capital	capital	NOUN
fbem-31693	49	47	run	run	NOUN
fbem-31693	49	48	.	.	PUNCT
fbem-31693	50	1	once	once	ADV
fbem-31693	50	2	a	a	DET
fbem-31693	50	3	large	large	ADJ
fbem-31693	50	4	-	-	PUNCT
fbem-31693	50	5	scale	scale	NOUN
fbem-31693	50	6	capital	capital	NOUN
fbem-31693	50	7	run	run	NOUN
fbem-31693	50	8	occurs	occur	VERB
fbem-31693	50	9	,	,	PUNCT
fbem-31693	50	10	stablecoin	stablecoin	ADJ
fbem-31693	50	11	issuers	issuer	NOUN
fbem-31693	50	12	may	may	AUX
fbem-31693	50	13	not	not	PART
fbem-31693	50	14	be	be	AUX
fbem-31693	50	15	able	able	ADJ
fbem-31693	50	16	to	to	PART
fbem-31693	50	17	meet	meet	VERB
fbem-31693	50	18	the	the	DET
fbem-31693	50	19	redemption	redemption	NOUN
fbem-31693	50	20	needs	need	NOUN
fbem-31693	50	21	of	of	ADP
fbem-31693	50	22	all	all	DET
fbem-31693	50	23	investors	investor	NOUN
fbem-31693	50	24	in	in	ADP
fbem-31693	50	25	a	a	DET
fbem-31693	50	26	short	short	ADJ
fbem-31693	50	27	period	period	NOUN
fbem-31693	50	28	of	of	ADP
fbem-31693	50	29	time	time	NOUN
fbem-31693	50	30	,	,	PUNCT
fbem-31693	50	31	leading	lead	VERB
fbem-31693	50	32	to	to	ADP
fbem-31693	50	33	a	a	DET
fbem-31693	50	34	significant	significant	ADJ
fbem-31693	50	35	drop	drop	NOUN
fbem-31693	50	36	in	in	ADP
fbem-31693	50	37	stablecoin	stablecoin	ADJ
fbem-31693	50	38	prices	price	NOUN
fbem-31693	50	39	and	and	CCONJ
fbem-31693	50	40	further	far	ADV
fbem-31693	50	41	exacerbating	exacerbate	VERB
fbem-31693	50	42	market	market	NOUN
fbem-31693	50	43	panic	panic	NOUN
fbem-31693	50	44	.	.	PUNCT
fbem-31693	51	1	this	this	DET
fbem-31693	51	2	kind	kind	NOUN
fbem-31693	51	3	of	of	ADP
fbem-31693	51	4	capital	capital	NOUN
fbem-31693	51	5	run	run	NOUN
fbem-31693	51	6	risk	risk	NOUN
fbem-31693	51	7	not	not	PART
fbem-31693	51	8	only	only	ADV
fbem-31693	51	9	impacts	impact	VERB
fbem-31693	51	10	the	the	DET
fbem-31693	51	11	stablecoin	stablecoin	NOUN
fbem-31693	51	12	market	market	NOUN
fbem-31693	51	13	itself	itself	PRON
fbem-31693	51	14	,	,	PUNCT
fbem-31693	51	15	but	but	CCONJ
fbem-31693	51	16	may	may	AUX
fbem-31693	51	17	also	also	ADV
fbem-31693	51	18	spread	spread	VERB
fbem-31693	51	19	to	to	ADP
fbem-31693	51	20	the	the	DET
fbem-31693	51	21	entire	entire	ADJ
fbem-31693	51	22	financial	financial	ADJ
fbem-31693	51	23	market	market	NOUN
fbem-31693	51	24	,	,	PUNCT
fbem-31693	51	25	causing	cause	VERB
fbem-31693	51	26	serious	serious	ADJ
fbem-31693	51	27	impact	impact	NOUN
fbem-31693	51	28	on	on	ADP
fbem-31693	51	29	the	the	DET
fbem-31693	51	30	liquidity	liquidity	NOUN
fbem-31693	51	31	of	of	ADP
fbem-31693	51	32	the	the	DET
fbem-31693	51	33	financial	financial	ADJ
fbem-31693	51	34	market	market	NOUN
fbem-31693	51	35	,	,	PUNCT
fbem-31693	51	36	leading	lead	VERB
fbem-31693	51	37	to	to	ADP
fbem-31693	51	38	tight	tight	ADJ
fbem-31693	51	39	market	market	NOUN
fbem-31693	51	40	funds	fund	NOUN
fbem-31693	51	41	,	,	PUNCT
fbem-31693	51	42	falling	fall	VERB
fbem-31693	51	43	asset	asset	NOUN
fbem-31693	51	44	prices	price	NOUN
fbem-31693	51	45	,	,	PUNCT
fbem-31693	51	46	and	and	CCONJ
fbem-31693	51	47	affecting	affect	VERB
fbem-31693	51	48	the	the	DET
fbem-31693	51	49	normal	normal	ADJ
fbem-31693	51	50	operation	operation	NOUN
fbem-31693	51	51	of	of	ADP
fbem-31693	51	52	financial	financial	ADJ
fbem-31693	51	53	institutions	institution	NOUN
fbem-31693	51	54	.	.	PUNCT
fbem-31693	52	1	3.2	3.2	NUM
fbem-31693	52	2	.	.	PUNCT
fbem-31693	52	3	credit	credit	NOUN
fbem-31693	52	4	risk	risk	NOUN
fbem-31693	52	5	the	the	DET
fbem-31693	52	6	credit	credit	NOUN
fbem-31693	52	7	qualifications	qualification	NOUN
fbem-31693	52	8	of	of	ADP
fbem-31693	52	9	stablecoin	stablecoin	ADJ
fbem-31693	52	10	issuers	issuer	NOUN
fbem-31693	52	11	vary	vary	VERB
fbem-31693	52	12	greatly	greatly	ADV
fbem-31693	52	13	.	.	PUNCT
fbem-31693	53	1	some	some	DET
fbem-31693	53	2	small	small	ADJ
fbem-31693	53	3	or	or	CCONJ
fbem-31693	53	4	emerging	emerge	VERB
fbem-31693	53	5	issuing	issue	VERB
fbem-31693	53	6	institutions	institution	NOUN
fbem-31693	53	7	may	may	AUX
fbem-31693	53	8	lack	lack	VERB
fbem-31693	53	9	sufficient	sufficient	ADJ
fbem-31693	53	10	capital	capital	NOUN
fbem-31693	53	11	strength	strength	NOUN
fbem-31693	53	12	,	,	PUNCT
fbem-31693	53	13	risk	risk	NOUN
fbem-31693	53	14	management	management	NOUN
fbem-31693	53	15	capabilities	capability	NOUN
fbem-31693	53	16	,	,	PUNCT
fbem-31693	53	17	and	and	CCONJ
fbem-31693	53	18	a	a	DET
fbem-31693	53	19	good	good	ADJ
fbem-31693	53	20	reputation	reputation	NOUN
fbem-31693	53	21	record	record	NOUN
fbem-31693	53	22	.	.	PUNCT
fbem-31693	54	1	if	if	SCONJ
fbem-31693	54	2	these	these	DET
fbem-31693	54	3	issuing	issue	VERB
fbem-31693	54	4	institutions	institution	NOUN
fbem-31693	54	5	encounter	encounter	VERB
fbem-31693	54	6	financial	financial	ADJ
fbem-31693	54	7	difficulties	difficulty	NOUN
fbem-31693	54	8	or	or	CCONJ
fbem-31693	54	9	violate	violate	VERB
fbem-31693	54	10	regulations	regulation	NOUN
fbem-31693	54	11	during	during	ADP
fbem-31693	54	12	their	their	PRON
fbem-31693	54	13	operations	operation	NOUN
fbem-31693	54	14	,	,	PUNCT
fbem-31693	54	15	such	such	ADJ
fbem-31693	54	16	as	as	ADP
fbem-31693	54	17	misappropriating	misappropriate	VERB
fbem-31693	54	18	reserve	reserve	NOUN
fbem-31693	54	19	funds	fund	NOUN
fbem-31693	54	20	,	,	PUNCT
fbem-31693	54	21	false	false	ADJ
fbem-31693	54	22	disclosure	disclosure	NOUN
fbem-31693	54	23	of	of	ADP
fbem-31693	54	24	information	information	NOUN
fbem-31693	54	25	,	,	PUNCT
fbem-31693	54	26	etc	etc	X
fbem-31693	54	27	.	.	X
fbem-31693	54	28	,	,	PUNCT
fbem-31693	54	29	it	it	PRON
fbem-31693	54	30	may	may	AUX
fbem-31693	54	31	lead	lead	VERB
fbem-31693	54	32	to	to	ADP
fbem-31693	54	33	the	the	DET
fbem-31693	54	34	occurrence	occurrence	NOUN
fbem-31693	54	35	of	of	ADP
fbem-31693	54	36	default	default	NOUN
fbem-31693	54	37	risks	risk	NOUN
fbem-31693	54	38	.	.	PUNCT
fbem-31693	55	1	once	once	ADV
fbem-31693	55	2	the	the	DET
fbem-31693	55	3	issuing	issue	VERB
fbem-31693	55	4	institution	institution	NOUN
fbem-31693	55	5	defaults	default	NOUN
fbem-31693	55	6	,	,	PUNCT
fbem-31693	55	7	the	the	DET
fbem-31693	55	8	value	value	NOUN
fbem-31693	55	9	of	of	ADP
fbem-31693	55	10	stablecoins	stablecoin	NOUN
fbem-31693	55	11	will	will	AUX
fbem-31693	55	12	be	be	AUX
fbem-31693	55	13	severely	severely	ADV
fbem-31693	55	14	affected	affect	VERB
fbem-31693	55	15	and	and	CCONJ
fbem-31693	55	16	investors	investor	NOUN
fbem-31693	55	17	will	will	AUX
fbem-31693	55	18	suffer	suffer	VERB
fbem-31693	55	19	losses	loss	NOUN
fbem-31693	55	20	.	.	PUNCT
fbem-31693	56	1	moreover	moreover	ADV
fbem-31693	56	2	,	,	PUNCT
fbem-31693	56	3	the	the	DET
fbem-31693	56	4	credit	credit	NOUN
fbem-31693	56	5	issues	issue	NOUN
fbem-31693	56	6	of	of	ADP
fbem-31693	56	7	individual	individual	ADJ
fbem-31693	56	8	issuing	issue	VERB
fbem-31693	56	9	institutions	institution	NOUN
fbem-31693	56	10	may	may	AUX
fbem-31693	56	11	trigger	trigger	VERB
fbem-31693	56	12	a	a	DET
fbem-31693	56	13	crisis	crisis	NOUN
fbem-31693	56	14	of	of	ADP
fbem-31693	56	15	trust	trust	NOUN
fbem-31693	56	16	in	in	ADP
fbem-31693	56	17	the	the	DET
fbem-31693	56	18	entire	entire	ADJ
fbem-31693	56	19	stablecoin	stablecoin	NOUN
fbem-31693	56	20	industry	industry	NOUN
fbem-31693	56	21	and	and	CCONJ
fbem-31693	56	22	undermine	undermine	VERB
fbem-31693	56	23	the	the	DET
fbem-31693	56	24	credit	credit	NOUN
fbem-31693	56	25	system	system	NOUN
fbem-31693	56	26	of	of	ADP
fbem-31693	56	27	the	the	DET
fbem-31693	56	28	financial	financial	ADJ
fbem-31693	56	29	system	system	NOUN
fbem-31693	56	30	.	.	PUNCT
fbem-31693	57	1	for	for	ADP
fbem-31693	57	2	example	example	NOUN
fbem-31693	57	3	,	,	PUNCT
fbem-31693	57	4	if	if	SCONJ
fbem-31693	57	5	a	a	DET
fbem-31693	57	6	stablecoin	stablecoin	ADJ
fbem-31693	57	7	issuing	issue	VERB
fbem-31693	57	8	institution	institution	NOUN
fbem-31693	57	9	with	with	ADP
fbem-31693	57	10	certain	certain	ADJ
fbem-31693	57	11	market	market	NOUN
fbem-31693	57	12	influence	influence	NOUN
fbem-31693	57	13	encounters	encounter	VERB
fbem-31693	57	14	credit	credit	NOUN
fbem-31693	57	15	problems	problem	NOUN
fbem-31693	57	16	,	,	PUNCT
fbem-31693	57	17	other	other	ADJ
fbem-31693	57	18	stablecoin	stablecoin	NOUN
fbem-31693	57	19	issuing	issue	VERB
fbem-31693	57	20	institutions	institution	NOUN
fbem-31693	57	21	may	may	AUX
fbem-31693	57	22	also	also	ADV
fbem-31693	57	23	be	be	AUX
fbem-31693	57	24	affected	affect	VERB
fbem-31693	57	25	,	,	PUNCT
fbem-31693	57	26	and	and	CCONJ
fbem-31693	57	27	investors	investor	NOUN
fbem-31693	57	28	'	'	PART
fbem-31693	57	29	confidence	confidence	NOUN
fbem-31693	57	30	in	in	ADP
fbem-31693	57	31	all	all	DET
fbem-31693	57	32	stablecoins	stablecoin	NOUN
fbem-31693	57	33	will	will	AUX
fbem-31693	57	34	decrease	decrease	VERB
fbem-31693	57	35	,	,	PUNCT
fbem-31693	57	36	thereby	thereby	ADV
fbem-31693	57	37	affecting	affect	VERB
fbem-31693	57	38	the	the	DET
fbem-31693	57	39	normal	normal	ADJ
fbem-31693	57	40	development	development	NOUN
fbem-31693	57	41	of	of	ADP
fbem-31693	57	42	various	various	ADJ
fbem-31693	57	43	transactions	transaction	NOUN
fbem-31693	57	44	and	and	CCONJ
fbem-31693	57	45	financial	financial	ADJ
fbem-31693	57	46	activities	activity	NOUN
fbem-31693	57	47	based	base	VERB
fbem-31693	57	48	on	on	ADP
fbem-31693	57	49	stablecoins	stablecoin	NOUN
fbem-31693	57	50	in	in	ADP
fbem-31693	57	51	the	the	DET
fbem-31693	57	52	financial	financial	ADJ
fbem-31693	57	53	market	market	NOUN
fbem-31693	58	1	[	[	X
fbem-31693	58	2	5	5	NUM
fbem-31693	58	3	]	]	PUNCT
fbem-31693	58	4	.	.	PUNCT
fbem-31693	59	1	3.3	3.3	NUM
fbem-31693	59	2	.	.	PUNCT
fbem-31693	60	1	market	market	NOUN
fbem-31693	60	2	risk	risk	NOUN
fbem-31693	60	3	the	the	DET
fbem-31693	60	4	price	price	NOUN
fbem-31693	60	5	anchoring	anchoring	NOUN
fbem-31693	60	6	mechanism	mechanism	NOUN
fbem-31693	60	7	of	of	ADP
fbem-31693	60	8	stablecoins	stablecoin	NOUN
fbem-31693	60	9	is	be	AUX
fbem-31693	60	10	not	not	PART
fbem-31693	60	11	absolutely	absolutely	ADV
fbem-31693	60	12	reliable	reliable	ADJ
fbem-31693	60	13	and	and	CCONJ
fbem-31693	60	14	may	may	AUX
fbem-31693	60	15	fail	fail	VERB
fbem-31693	60	16	in	in	ADP
fbem-31693	60	17	certain	certain	ADJ
fbem-31693	60	18	situations	situation	NOUN
fbem-31693	60	19	.	.	PUNCT
fbem-31693	61	1	for	for	ADP
fbem-31693	61	2	example	example	NOUN
fbem-31693	61	3	,	,	PUNCT
fbem-31693	61	4	when	when	SCONJ
fbem-31693	61	5	the	the	DET
fbem-31693	61	6	market	market	NOUN
fbem-31693	61	7	experiences	experience	VERB
fbem-31693	61	8	extreme	extreme	ADJ
fbem-31693	61	9	fluctuations	fluctuation	NOUN
fbem-31693	61	10	or	or	CCONJ
fbem-31693	61	11	sudden	sudden	ADJ
fbem-31693	61	12	major	major	ADJ
fbem-31693	61	13	events	event	NOUN
fbem-31693	61	14	,	,	PUNCT
fbem-31693	61	15	the	the	DET
fbem-31693	61	16	supply	supply	NOUN
fbem-31693	61	17	and	and	CCONJ
fbem-31693	61	18	demand	demand	NOUN
fbem-31693	61	19	relationship	relationship	NOUN
fbem-31693	61	20	of	of	ADP
fbem-31693	61	21	stablecoins	stablecoin	NOUN
fbem-31693	61	22	may	may	AUX
fbem-31693	61	23	undergo	undergo	VERB
fbem-31693	61	24	drastic	drastic	ADJ
fbem-31693	61	25	changes	change	NOUN
fbem-31693	61	26	,	,	PUNCT
fbem-31693	61	27	resulting	result	VERB
fbem-31693	61	28	in	in	ADP
fbem-31693	61	29	a	a	DET
fbem-31693	61	30	significant	significant	ADJ
fbem-31693	61	31	deviation	deviation	NOUN
fbem-31693	61	32	between	between	ADP
fbem-31693	61	33	their	their	PRON
fbem-31693	61	34	price	price	NOUN
fbem-31693	61	35	and	and	CCONJ
fbem-31693	61	36	the	the	DET
fbem-31693	61	37	price	price	NOUN
fbem-31693	61	38	of	of	ADP
fbem-31693	61	39	the	the	DET
fbem-31693	61	40	anchored	anchored	ADJ
fbem-31693	61	41	asset	asset	NOUN
fbem-31693	61	42	.	.	PUNCT
fbem-31693	62	1	taking	take	VERB
fbem-31693	62	2	algorithmic	algorithmic	ADJ
fbem-31693	62	3	stablecoins	stablecoin	NOUN
fbem-31693	62	4	as	as	ADP
fbem-31693	62	5	an	an	DET
fbem-31693	62	6	example	example	NOUN
fbem-31693	62	7	,	,	PUNCT
fbem-31693	62	8	when	when	SCONJ
fbem-31693	62	9	market	market	NOUN
fbem-31693	62	10	panic	panic	NOUN
fbem-31693	62	11	spreads	spread	VERB
fbem-31693	62	12	,	,	PUNCT
fbem-31693	62	13	investors	investor	NOUN
fbem-31693	62	14	may	may	AUX
fbem-31693	62	15	sell	sell	VERB
fbem-31693	62	16	a	a	DET
fbem-31693	62	17	large	large	ADJ
fbem-31693	62	18	amount	amount	NOUN
fbem-31693	62	19	of	of	ADP
fbem-31693	62	20	stablecoins	stablecoin	NOUN
fbem-31693	62	21	.	.	PUNCT
fbem-31693	63	1	algorithms	algorithm	NOUN
fbem-31693	63	2	may	may	AUX
fbem-31693	63	3	not	not	PART
fbem-31693	63	4	be	be	AUX
fbem-31693	63	5	able	able	ADJ
fbem-31693	63	6	to	to	PART
fbem-31693	63	7	timely	timely	VERB
fbem-31693	63	8	and	and	CCONJ
fbem-31693	63	9	effectively	effectively	ADV
fbem-31693	63	10	regulate	regulate	VERB
fbem-31693	63	11	market	market	NOUN
fbem-31693	63	12	supply	supply	NOUN
fbem-31693	63	13	and	and	CCONJ
fbem-31693	63	14	demand	demand	NOUN
fbem-31693	63	15	,	,	PUNCT
fbem-31693	63	16	resulting	result	VERB
fbem-31693	63	17	in	in	ADP
fbem-31693	63	18	a	a	DET
fbem-31693	63	19	significant	significant	ADJ
fbem-31693	63	20	drop	drop	NOUN
fbem-31693	63	21	in	in	ADP
fbem-31693	63	22	stablecoin	stablecoin	ADJ
fbem-31693	63	23	prices	price	NOUN
fbem-31693	63	24	and	and	CCONJ
fbem-31693	63	25	an	an	DET
fbem-31693	63	26	inability	inability	NOUN
fbem-31693	63	27	to	to	PART
fbem-31693	63	28	maintain	maintain	VERB
fbem-31693	63	29	their	their	PRON
fbem-31693	63	30	anchor	anchor	NOUN
fbem-31693	63	31	prices	price	NOUN
fbem-31693	63	32	.	.	PUNCT
fbem-31693	64	1	the	the	DET
fbem-31693	64	2	significant	significant	ADJ
fbem-31693	64	3	fluctuations	fluctuation	NOUN
fbem-31693	64	4	in	in	ADP
fbem-31693	64	5	stablecoin	stablecoin	ADJ
fbem-31693	64	6	prices	price	NOUN
fbem-31693	64	7	not	not	PART
fbem-31693	64	8	only	only	ADV
fbem-31693	64	9	have	have	VERB
fbem-31693	64	10	an	an	DET
fbem-31693	64	11	impact	impact	NOUN
fbem-31693	64	12	on	on	ADP
fbem-31693	64	13	the	the	DET
fbem-31693	64	14	cryptocurrency	cryptocurrency	NOUN
fbem-31693	64	15	market	market	NOUN
fbem-31693	64	16	,	,	PUNCT
fbem-31693	64	17	leading	lead	VERB
fbem-31693	64	18	to	to	ADP
fbem-31693	64	19	increased	increase	VERB
fbem-31693	64	20	uncertainty	uncertainty	NOUN
fbem-31693	64	21	in	in	ADP
fbem-31693	64	22	cryptocurrency	cryptocurrency	NOUN
fbem-31693	64	23	trading	trading	NOUN
fbem-31693	64	24	,	,	PUNCT
fbem-31693	64	25	but	but	CCONJ
fbem-31693	64	26	may	may	AUX
fbem-31693	64	27	also	also	ADV
fbem-31693	64	28	affect	affect	VERB
fbem-31693	64	29	related	relate	VERB
fbem-31693	64	30	financial	financial	ADJ
fbem-31693	64	31	derivative	derivative	ADJ
fbem-31693	64	32	markets	market	NOUN
fbem-31693	64	33	.	.	PUNCT
fbem-31693	65	1	because	because	SCONJ
fbem-31693	65	2	stablecoins	stablecoin	NOUN
fbem-31693	65	3	are	be	AUX
fbem-31693	65	4	often	often	ADV
fbem-31693	65	5	used	use	VERB
fbem-31693	65	6	as	as	ADP
fbem-31693	65	7	underlying	underlying	ADJ
fbem-31693	65	8	assets	asset	NOUN
fbem-31693	65	9	or	or	CCONJ
fbem-31693	65	10	margin	margin	NOUN
fbem-31693	65	11	in	in	ADP
fbem-31693	65	12	financial	financial	ADJ
fbem-31693	65	13	derivatives	derivative	NOUN
fbem-31693	65	14	trading	trading	NOUN
fbem-31693	65	15	,	,	PUNCT
fbem-31693	65	16	3	3	NUM
fbem-31693	65	17	the	the	DET
fbem-31693	65	18	instability	instability	NOUN
fbem-31693	65	19	of	of	ADP
fbem-31693	65	20	stablecoin	stablecoin	ADJ
fbem-31693	65	21	prices	price	NOUN
fbem-31693	65	22	can	can	AUX
fbem-31693	65	23	affect	affect	VERB
fbem-31693	65	24	the	the	DET
fbem-31693	65	25	pricing	pricing	NOUN
fbem-31693	65	26	and	and	CCONJ
fbem-31693	65	27	trading	trading	NOUN
fbem-31693	65	28	risks	risk	NOUN
fbem-31693	65	29	of	of	ADP
fbem-31693	65	30	derivatives	derivative	NOUN
fbem-31693	65	31	,	,	PUNCT
fbem-31693	65	32	thereby	thereby	ADV
fbem-31693	65	33	triggering	trigger	VERB
fbem-31693	65	34	fluctuations	fluctuation	NOUN
fbem-31693	65	35	in	in	ADP
fbem-31693	65	36	the	the	DET
fbem-31693	65	37	entire	entire	ADJ
fbem-31693	65	38	related	relate	VERB
fbem-31693	65	39	financial	financial	ADJ
fbem-31693	65	40	market	market	NOUN
fbem-31693	65	41	.	.	PUNCT
fbem-31693	66	1	3.4	3.4	NUM
fbem-31693	66	2	.	.	PUNCT
fbem-31693	66	3	systemic	systemic	ADJ
fbem-31693	66	4	risk	risk	NOUN
fbem-31693	66	5	there	there	PRON
fbem-31693	66	6	is	be	VERB
fbem-31693	66	7	a	a	DET
fbem-31693	66	8	close	close	ADJ
fbem-31693	66	9	relationship	relationship	NOUN
fbem-31693	66	10	between	between	ADP
fbem-31693	66	11	stablecoins	stablecoin	NOUN
fbem-31693	66	12	,	,	PUNCT
fbem-31693	66	13	traditional	traditional	ADJ
fbem-31693	66	14	financial	financial	ADJ
fbem-31693	66	15	markets	market	NOUN
fbem-31693	66	16	,	,	PUNCT
fbem-31693	66	17	and	and	CCONJ
fbem-31693	66	18	cryptocurrency	cryptocurrency	NOUN
fbem-31693	66	19	markets	market	NOUN
fbem-31693	66	20	.	.	PUNCT
fbem-31693	67	1	for	for	ADP
fbem-31693	67	2	example	example	NOUN
fbem-31693	67	3	,	,	PUNCT
fbem-31693	67	4	if	if	SCONJ
fbem-31693	67	5	the	the	DET
fbem-31693	67	6	reserve	reserve	NOUN
fbem-31693	67	7	funds	fund	NOUN
fbem-31693	67	8	of	of	ADP
fbem-31693	67	9	a	a	DET
fbem-31693	67	10	stablecoin	stablecoin	ADJ
fbem-31693	67	11	issuer	issuer	NOUN
fbem-31693	67	12	are	be	AUX
fbem-31693	67	13	stored	store	VERB
fbem-31693	67	14	in	in	ADP
fbem-31693	67	15	a	a	DET
fbem-31693	67	16	bank	bank	NOUN
fbem-31693	67	17	and	and	CCONJ
fbem-31693	67	18	a	a	DET
fbem-31693	67	19	large	large	ADJ
fbem-31693	67	20	-	-	PUNCT
fbem-31693	67	21	scale	scale	NOUN
fbem-31693	67	22	run	run	NOUN
fbem-31693	67	23	occurs	occur	VERB
fbem-31693	67	24	,	,	PUNCT
fbem-31693	67	25	the	the	DET
fbem-31693	67	26	bank	bank	NOUN
fbem-31693	67	27	may	may	AUX
fbem-31693	67	28	face	face	VERB
fbem-31693	67	29	liquidity	liquidity	NOUN
fbem-31693	67	30	pressure	pressure	NOUN
fbem-31693	67	31	due	due	ADP
fbem-31693	67	32	to	to	ADP
fbem-31693	67	33	the	the	DET
fbem-31693	67	34	inability	inability	NOUN
fbem-31693	67	35	to	to	PART
fbem-31693	67	36	meet	meet	VERB
fbem-31693	67	37	the	the	DET
fbem-31693	67	38	redemption	redemption	NOUN
fbem-31693	67	39	needs	need	NOUN
fbem-31693	67	40	of	of	ADP
fbem-31693	67	41	the	the	DET
fbem-31693	67	42	stablecoin	stablecoin	NOUN
fbem-31693	67	43	issuer	issuer	NOUN
fbem-31693	67	44	in	in	ADP
fbem-31693	67	45	a	a	DET
fbem-31693	67	46	timely	timely	ADJ
fbem-31693	67	47	manner	manner	NOUN
fbem-31693	67	48	,	,	PUNCT
fbem-31693	67	49	thereby	thereby	ADV
fbem-31693	67	50	affecting	affect	VERB
fbem-31693	67	51	the	the	DET
fbem-31693	67	52	normal	normal	ADJ
fbem-31693	67	53	operation	operation	NOUN
fbem-31693	67	54	of	of	ADP
fbem-31693	67	55	the	the	DET
fbem-31693	67	56	bank	bank	NOUN
fbem-31693	67	57	.	.	PUNCT
fbem-31693	68	1	in	in	ADP
fbem-31693	68	2	the	the	DET
fbem-31693	68	3	cryptocurrency	cryptocurrency	NOUN
fbem-31693	68	4	market	market	NOUN
fbem-31693	68	5	,	,	PUNCT
fbem-31693	68	6	price	price	NOUN
fbem-31693	68	7	fluctuations	fluctuation	NOUN
fbem-31693	68	8	and	and	CCONJ
fbem-31693	68	9	credit	credit	NOUN
fbem-31693	68	10	risks	risk	NOUN
fbem-31693	68	11	of	of	ADP
fbem-31693	68	12	stablecoins	stablecoin	NOUN
fbem-31693	68	13	can	can	AUX
fbem-31693	68	14	quickly	quickly	ADV
fbem-31693	68	15	spread	spread	VERB
fbem-31693	68	16	within	within	ADP
fbem-31693	68	17	the	the	DET
fbem-31693	68	18	cryptocurrency	cryptocurrency	NOUN
fbem-31693	68	19	market	market	NOUN
fbem-31693	68	20	.	.	PUNCT
fbem-31693	69	1	if	if	SCONJ
fbem-31693	69	2	a	a	DET
fbem-31693	69	3	stablecoin	stablecoin	ADJ
fbem-31693	69	4	experiences	experience	NOUN
fbem-31693	69	5	anchor	anchor	NOUN
fbem-31693	69	6	detachment	detachment	NOUN
fbem-31693	69	7	or	or	CCONJ
fbem-31693	69	8	credit	credit	NOUN
fbem-31693	69	9	crisis	crisis	NOUN
fbem-31693	69	10	,	,	PUNCT
fbem-31693	69	11	investors	investor	NOUN
fbem-31693	69	12	may	may	AUX
fbem-31693	69	13	lose	lose	VERB
fbem-31693	69	14	confidence	confidence	NOUN
fbem-31693	69	15	in	in	ADP
fbem-31693	69	16	the	the	DET
fbem-31693	69	17	entire	entire	ADJ
fbem-31693	69	18	cryptocurrency	cryptocurrency	NOUN
fbem-31693	69	19	market	market	NOUN
fbem-31693	69	20	,	,	PUNCT
fbem-31693	69	21	leading	lead	VERB
fbem-31693	69	22	to	to	ADP
fbem-31693	69	23	a	a	DET
fbem-31693	69	24	widespread	widespread	ADJ
fbem-31693	69	25	decline	decline	NOUN
fbem-31693	69	26	in	in	ADP
fbem-31693	69	27	cryptocurrency	cryptocurrency	NOUN
fbem-31693	69	28	prices	price	NOUN
fbem-31693	69	29	and	and	CCONJ
fbem-31693	69	30	causing	cause	VERB
fbem-31693	69	31	turbulence	turbulence	NOUN
fbem-31693	69	32	in	in	ADP
fbem-31693	69	33	the	the	DET
fbem-31693	69	34	cryptocurrency	cryptocurrency	NOUN
fbem-31693	69	35	market	market	NOUN
fbem-31693	69	36	.	.	PUNCT
fbem-31693	70	1	4	4	X
fbem-31693	70	2	.	.	X
fbem-31693	70	3	current	current	ADJ
fbem-31693	70	4	situation	situation	NOUN
fbem-31693	70	5	and	and	CCONJ
fbem-31693	70	6	problems	problem	NOUN
fbem-31693	70	7	of	of	ADP
fbem-31693	70	8	stablecoin	stablecoin	ADJ
fbem-31693	70	9	regulation	regulation	NOUN
fbem-31693	70	10	4.1	4.1	NUM
fbem-31693	70	11	.	.	PUNCT
fbem-31693	71	1	international	international	ADJ
fbem-31693	71	2	regulatory	regulatory	ADJ
fbem-31693	71	3	status	status	NOUN
fbem-31693	71	4	the	the	DET
fbem-31693	71	5	united	united	PROPN
fbem-31693	71	6	states	states	PROPN
fbem-31693	71	7	:	:	PUNCT
fbem-31693	71	8	the	the	DET
fbem-31693	71	9	regulation	regulation	NOUN
fbem-31693	71	10	of	of	ADP
fbem-31693	71	11	stablecoins	stablecoin	NOUN
fbem-31693	71	12	is	be	AUX
fbem-31693	71	13	gradually	gradually	ADV
fbem-31693	71	14	strengthening	strengthen	VERB
fbem-31693	71	15	.	.	PUNCT
fbem-31693	72	1	recently	recently	ADV
fbem-31693	72	2	,	,	PUNCT
fbem-31693	72	3	the	the	DET
fbem-31693	72	4	us	us	PROPN
fbem-31693	72	5	senate	senate	PROPN
fbem-31693	72	6	passed	pass	VERB
fbem-31693	72	7	the	the	DET
fbem-31693	72	8	"	"	PUNCT
fbem-31693	72	9	guiding	guiding	NOUN
fbem-31693	72	10	and	and	CCONJ
fbem-31693	72	11	establishing	establish	VERB
fbem-31693	72	12	a	a	DET
fbem-31693	72	13	national	national	ADJ
fbem-31693	72	14	innovation	innovation	NOUN
fbem-31693	72	15	act	act	NOUN
fbem-31693	72	16	for	for	ADP
fbem-31693	72	17	stablecoins	stablecoin	NOUN
fbem-31693	72	18	"	"	PUNCT
fbem-31693	72	19	(	(	PUNCT
fbem-31693	72	20	commonly	commonly	ADV
fbem-31693	72	21	known	know	VERB
fbem-31693	72	22	as	as	ADP
fbem-31693	72	23	the	the	DET
fbem-31693	72	24	"	"	PUNCT
fbem-31693	72	25	genius	genius	NOUN
fbem-31693	72	26	act	act	NOUN
fbem-31693	72	27	"	"	PUNCT
fbem-31693	72	28	)	)	PUNCT
fbem-31693	72	29	,	,	PUNCT
fbem-31693	72	30	which	which	PRON
fbem-31693	72	31	became	become	VERB
fbem-31693	72	32	the	the	DET
fbem-31693	72	33	first	first	ADJ
fbem-31693	72	34	bill	bill	NOUN
fbem-31693	72	35	in	in	ADP
fbem-31693	72	36	the	the	DET
fbem-31693	72	37	united	united	PROPN
fbem-31693	72	38	states	states	PROPN
fbem-31693	72	39	to	to	PART
fbem-31693	72	40	establish	establish	VERB
fbem-31693	72	41	a	a	DET
fbem-31693	72	42	federal	federal	ADJ
fbem-31693	72	43	regulatory	regulatory	ADJ
fbem-31693	72	44	framework	framework	NOUN
fbem-31693	72	45	for	for	ADP
fbem-31693	72	46	stablecoins	stablecoin	NOUN
fbem-31693	72	47	.	.	PUNCT
fbem-31693	73	1	eu	eu	NOUN
fbem-31693	73	2	:	:	PUNCT
fbem-31693	73	3	on	on	ADP
fbem-31693	73	4	april	april	PROPN
fbem-31693	73	5	20	20	NUM
fbem-31693	73	6	,	,	PUNCT
fbem-31693	73	7	2023	2023	NUM
fbem-31693	73	8	,	,	PUNCT
fbem-31693	73	9	the	the	DET
fbem-31693	73	10	eu	eu	PROPN
fbem-31693	73	11	first	first	ADV
fbem-31693	73	12	introduced	introduce	VERB
fbem-31693	73	13	the	the	DET
fbem-31693	73	14	world	world	NOUN
fbem-31693	73	15	's	's	PART
fbem-31693	73	16	first	first	ADJ
fbem-31693	73	17	cryptocurrency	cryptocurrency	NOUN
fbem-31693	73	18	regulation	regulation	NOUN
fbem-31693	73	19	,	,	PUNCT
fbem-31693	73	20	the	the	DET
fbem-31693	73	21	crypto	crypto	NOUN
fbem-31693	73	22	asset	asset	NOUN
fbem-31693	73	23	market	market	NOUN
fbem-31693	73	24	regulation	regulation	NOUN
fbem-31693	73	25	act	act	NOUN
fbem-31693	73	26	(	(	PUNCT
fbem-31693	73	27	mica	mica	NOUN
fbem-31693	73	28	)	)	PUNCT
fbem-31693	73	29	,	,	PUNCT
fbem-31693	73	30	which	which	PRON
fbem-31693	73	31	has	have	AUX
fbem-31693	73	32	come	come	VERB
fbem-31693	73	33	into	into	ADP
fbem-31693	73	34	effect	effect	NOUN
fbem-31693	73	35	.	.	PUNCT
fbem-31693	74	1	china	china	PROPN
fbem-31693	74	2	:	:	PUNCT
fbem-31693	75	1	china	china	PROPN
fbem-31693	75	2	has	have	AUX
fbem-31693	75	3	adopted	adopt	VERB
fbem-31693	75	4	a	a	DET
fbem-31693	75	5	relatively	relatively	ADV
fbem-31693	75	6	strict	strict	ADJ
fbem-31693	75	7	regulatory	regulatory	ADJ
fbem-31693	75	8	attitude	attitude	NOUN
fbem-31693	75	9	towards	towards	ADP
fbem-31693	75	10	virtual	virtual	ADJ
fbem-31693	75	11	currencies	currency	NOUN
fbem-31693	75	12	.	.	PUNCT
fbem-31693	76	1	stablecoins	stablecoin	NOUN
fbem-31693	76	2	,	,	PUNCT
fbem-31693	76	3	as	as	ADP
fbem-31693	76	4	a	a	DET
fbem-31693	76	5	type	type	NOUN
fbem-31693	76	6	of	of	ADP
fbem-31693	76	7	virtual	virtual	ADJ
fbem-31693	76	8	currency	currency	NOUN
fbem-31693	76	9	,	,	PUNCT
fbem-31693	76	10	are	be	AUX
fbem-31693	76	11	not	not	PART
fbem-31693	76	12	allowed	allow	VERB
fbem-31693	76	13	to	to	PART
fbem-31693	76	14	be	be	AUX
fbem-31693	76	15	issued	issue	VERB
fbem-31693	76	16	and	and	CCONJ
fbem-31693	76	17	traded	trade	VERB
fbem-31693	76	18	within	within	ADP
fbem-31693	76	19	china	china	PROPN
fbem-31693	76	20	.	.	PUNCT
fbem-31693	77	1	china	china	PROPN
fbem-31693	77	2	is	be	AUX
fbem-31693	77	3	committed	commit	VERB
fbem-31693	77	4	to	to	ADP
fbem-31693	77	5	strengthening	strengthen	VERB
fbem-31693	77	6	supervision	supervision	NOUN
fbem-31693	77	7	of	of	ADP
fbem-31693	77	8	the	the	DET
fbem-31693	77	9	financial	financial	ADJ
fbem-31693	77	10	market	market	NOUN
fbem-31693	77	11	,	,	PUNCT
fbem-31693	77	12	preventing	prevent	VERB
fbem-31693	77	13	financial	financial	ADJ
fbem-31693	77	14	risks	risk	NOUN
fbem-31693	77	15	caused	cause	VERB
fbem-31693	77	16	by	by	ADP
fbem-31693	77	17	virtual	virtual	ADJ
fbem-31693	77	18	currencies	currency	NOUN
fbem-31693	77	19	,	,	PUNCT
fbem-31693	77	20	maintaining	maintain	VERB
fbem-31693	77	21	financial	financial	ADJ
fbem-31693	77	22	order	order	NOUN
fbem-31693	77	23	and	and	CCONJ
fbem-31693	77	24	national	national	ADJ
fbem-31693	77	25	financial	financial	ADJ
fbem-31693	77	26	security	security	NOUN
fbem-31693	77	27	.	.	PUNCT
fbem-31693	78	1	4.2	4.2	NUM
fbem-31693	78	2	.	.	PUNCT
fbem-31693	79	1	existing	exist	VERB
fbem-31693	79	2	regulatory	regulatory	ADJ
fbem-31693	79	3	issues	issue	NOUN
fbem-31693	79	4	the	the	DET
fbem-31693	79	5	technological	technological	ADJ
fbem-31693	79	6	innovation	innovation	NOUN
fbem-31693	79	7	and	and	CCONJ
fbem-31693	79	8	business	business	NOUN
fbem-31693	79	9	model	model	NOUN
fbem-31693	79	10	iteration	iteration	NOUN
fbem-31693	79	11	speed	speed	NOUN
fbem-31693	79	12	of	of	ADP
fbem-31693	79	13	the	the	DET
fbem-31693	79	14	stablecoin	stablecoin	NOUN
fbem-31693	79	15	market	market	NOUN
fbem-31693	79	16	are	be	AUX
fbem-31693	79	17	extremely	extremely	ADV
fbem-31693	79	18	fast	fast	ADJ
fbem-31693	79	19	,	,	PUNCT
fbem-31693	79	20	constantly	constantly	ADV
fbem-31693	79	21	giving	give	VERB
fbem-31693	79	22	rise	rise	NOUN
fbem-31693	79	23	to	to	ADP
fbem-31693	79	24	new	new	ADJ
fbem-31693	79	25	product	product	NOUN
fbem-31693	79	26	forms	form	NOUN
fbem-31693	79	27	and	and	CCONJ
fbem-31693	79	28	application	application	NOUN
fbem-31693	79	29	scenarios	scenario	NOUN
fbem-31693	79	30	.	.	PUNCT
fbem-31693	80	1	however	however	ADV
fbem-31693	80	2	,	,	PUNCT
fbem-31693	80	3	the	the	DET
fbem-31693	80	4	existing	exist	VERB
fbem-31693	80	5	regulatory	regulatory	ADJ
fbem-31693	80	6	framework	framework	NOUN
fbem-31693	80	7	is	be	AUX
fbem-31693	80	8	difficult	difficult	ADJ
fbem-31693	80	9	to	to	PART
fbem-31693	80	10	keep	keep	VERB
fbem-31693	80	11	up	up	ADP
fbem-31693	80	12	with	with	ADP
fbem-31693	80	13	the	the	DET
fbem-31693	80	14	pace	pace	NOUN
fbem-31693	80	15	of	of	ADP
fbem-31693	80	16	market	market	NOUN
fbem-31693	80	17	innovation	innovation	NOUN
fbem-31693	80	18	.	.	PUNCT
fbem-31693	81	1	for	for	ADP
fbem-31693	81	2	emerging	emerge	VERB
fbem-31693	81	3	algorithmic	algorithmic	ADJ
fbem-31693	81	4	stablecoins	stablecoin	NOUN
fbem-31693	81	5	,	,	PUNCT
fbem-31693	81	6	their	their	PRON
fbem-31693	81	7	complex	complex	ADJ
fbem-31693	81	8	regulatory	regulatory	ADJ
fbem-31693	81	9	mechanisms	mechanism	NOUN
fbem-31693	81	10	and	and	CCONJ
fbem-31693	81	11	lack	lack	NOUN
fbem-31693	81	12	of	of	ADP
fbem-31693	81	13	actual	actual	ADJ
fbem-31693	81	14	asset	asset	NOUN
fbem-31693	81	15	collateral	collateral	NOUN
fbem-31693	81	16	make	make	VERB
fbem-31693	81	17	traditional	traditional	ADJ
fbem-31693	81	18	regulatory	regulatory	ADJ
fbem-31693	81	19	rules	rule	NOUN
fbem-31693	81	20	based	base	VERB
fbem-31693	81	21	on	on	ADP
fbem-31693	81	22	asset	asset	NOUN
fbem-31693	81	23	collateral	collateral	NOUN
fbem-31693	81	24	difficult	difficult	ADJ
fbem-31693	81	25	to	to	PART
fbem-31693	81	26	apply	apply	VERB
fbem-31693	81	27	.	.	PUNCT
fbem-31693	82	1	in	in	ADP
fbem-31693	82	2	addition	addition	NOUN
fbem-31693	82	3	,	,	PUNCT
fbem-31693	82	4	the	the	DET
fbem-31693	82	5	deep	deep	ADJ
fbem-31693	82	6	integration	integration	NOUN
fbem-31693	82	7	of	of	ADP
fbem-31693	82	8	stablecoins	stablecoin	NOUN
fbem-31693	82	9	with	with	ADP
fbem-31693	82	10	decentralized	decentralized	ADJ
fbem-31693	82	11	finance	finance	NOUN
fbem-31693	82	12	(	(	PUNCT
fbem-31693	82	13	defi	defi	PROPN
fbem-31693	82	14	)	)	PUNCT
fbem-31693	82	15	,	,	PUNCT
fbem-31693	82	16	smart	smart	ADJ
fbem-31693	82	17	contracts	contract	NOUN
fbem-31693	82	18	,	,	PUNCT
fbem-31693	82	19	and	and	CCONJ
fbem-31693	82	20	other	other	ADJ
fbem-31693	82	21	technologies	technology	NOUN
fbem-31693	82	22	has	have	AUX
fbem-31693	82	23	given	give	VERB
fbem-31693	82	24	rise	rise	NOUN
fbem-31693	82	25	to	to	ADP
fbem-31693	82	26	numerous	numerous	ADJ
fbem-31693	82	27	new	new	ADJ
fbem-31693	82	28	financial	financial	ADJ
fbem-31693	82	29	business	business	NOUN
fbem-31693	82	30	models	model	NOUN
fbem-31693	82	31	.	.	PUNCT
fbem-31693	83	1	existing	exist	VERB
fbem-31693	83	2	regulatory	regulatory	ADJ
fbem-31693	83	3	policies	policy	NOUN
fbem-31693	83	4	in	in	ADP
fbem-31693	83	5	these	these	DET
fbem-31693	83	6	areas	area	NOUN
fbem-31693	83	7	have	have	VERB
fbem-31693	83	8	a	a	DET
fbem-31693	83	9	large	large	ADJ
fbem-31693	83	10	number	number	NOUN
fbem-31693	83	11	of	of	ADP
fbem-31693	83	12	gaps	gap	NOUN
fbem-31693	83	13	and	and	CCONJ
fbem-31693	83	14	can	can	AUX
fbem-31693	83	15	not	not	PART
fbem-31693	83	16	effectively	effectively	ADV
fbem-31693	83	17	prevent	prevent	VERB
fbem-31693	83	18	potential	potential	ADJ
fbem-31693	83	19	financial	financial	ADJ
fbem-31693	83	20	risks	risk	NOUN
fbem-31693	83	21	in	in	ADP
fbem-31693	83	22	a	a	DET
fbem-31693	83	23	timely	timely	ADJ
fbem-31693	83	24	manner	manner	NOUN
fbem-31693	83	25	.	.	PUNCT
fbem-31693	84	1	stablecoins	stablecoin	NOUN
fbem-31693	84	2	rely	rely	VERB
fbem-31693	84	3	on	on	ADP
fbem-31693	84	4	blockchain	blockchain	PROPN
fbem-31693	84	5	technology	technology	PROPN
fbem-31693	84	6	to	to	PART
fbem-31693	84	7	achieve	achieve	VERB
fbem-31693	84	8	realtime	realtime	ADJ
fbem-31693	84	9	cross	cross	ADJ
fbem-31693	84	10	-	-	ADJ
fbem-31693	84	11	border	border	ADJ
fbem-31693	84	12	circulation	circulation	NOUN
fbem-31693	84	13	,	,	PUNCT
fbem-31693	84	14	and	and	CCONJ
fbem-31693	84	15	their	their	PRON
fbem-31693	84	16	cross	cross	ADJ
fbem-31693	84	17	-	-	ADJ
fbem-31693	84	18	border	border	ADJ
fbem-31693	84	19	issuance	issuance	NOUN
fbem-31693	84	20	and	and	CCONJ
fbem-31693	84	21	trading	trading	NOUN
fbem-31693	84	22	characteristics	characteristic	NOUN
fbem-31693	84	23	pose	pose	VERB
fbem-31693	84	24	serious	serious	ADJ
fbem-31693	84	25	challenges	challenge	NOUN
fbem-31693	84	26	to	to	ADP
fbem-31693	84	27	international	international	ADJ
fbem-31693	84	28	regulation	regulation	NOUN
fbem-31693	84	29	.	.	PUNCT
fbem-31693	85	1	in	in	ADP
fbem-31693	85	2	terms	term	NOUN
fbem-31693	85	3	of	of	ADP
fbem-31693	85	4	regulatory	regulatory	ADJ
fbem-31693	85	5	jurisdiction	jurisdiction	NOUN
fbem-31693	85	6	,	,	PUNCT
fbem-31693	85	7	due	due	ADP
fbem-31693	85	8	to	to	ADP
fbem-31693	85	9	the	the	DET
fbem-31693	85	10	distributed	distribute	VERB
fbem-31693	85	11	ledger	ledger	NOUN
fbem-31693	85	12	and	and	CCONJ
fbem-31693	85	13	decentralized	decentralized	ADJ
fbem-31693	85	14	characteristics	characteristic	NOUN
fbem-31693	85	15	of	of	ADP
fbem-31693	85	16	blockchain	blockchain	PROPN
fbem-31693	85	17	,	,	PUNCT
fbem-31693	85	18	it	it	PRON
fbem-31693	85	19	is	be	AUX
fbem-31693	85	20	difficult	difficult	ADJ
fbem-31693	85	21	to	to	PART
fbem-31693	85	22	clearly	clearly	ADV
fbem-31693	85	23	define	define	VERB
fbem-31693	85	24	the	the	DET
fbem-31693	85	25	place	place	NOUN
fbem-31693	85	26	where	where	SCONJ
fbem-31693	85	27	stablecoin	stablecoin	NOUN
fbem-31693	85	28	issuance	issuance	NOUN
fbem-31693	85	29	and	and	CCONJ
fbem-31693	85	30	trading	trading	NOUN
fbem-31693	85	31	activities	activity	NOUN
fbem-31693	85	32	occur	occur	VERB
fbem-31693	85	33	.	.	PUNCT
fbem-31693	86	1	there	there	PRON
fbem-31693	86	2	are	be	VERB
fbem-31693	86	3	conflicts	conflict	NOUN
fbem-31693	86	4	in	in	ADP
fbem-31693	86	5	regulatory	regulatory	ADJ
fbem-31693	86	6	jurisdiction	jurisdiction	NOUN
fbem-31693	86	7	based	base	VERB
fbem-31693	86	8	on	on	ADP
fbem-31693	86	9	territorial	territorial	ADJ
fbem-31693	86	10	and	and	CCONJ
fbem-31693	86	11	personal	personal	ADJ
fbem-31693	86	12	principles	principle	NOUN
fbem-31693	86	13	among	among	ADP
fbem-31693	86	14	countries	country	NOUN
fbem-31693	86	15	,	,	PUNCT
fbem-31693	86	16	which	which	PRON
fbem-31693	86	17	can	can	AUX
fbem-31693	86	18	lead	lead	VERB
fbem-31693	86	19	to	to	ADP
fbem-31693	86	20	regulatory	regulatory	ADJ
fbem-31693	86	21	overlap	overlap	NOUN
fbem-31693	86	22	or	or	CCONJ
fbem-31693	86	23	regulatory	regulatory	ADJ
fbem-31693	86	24	vacuum	vacuum	NOUN
fbem-31693	86	25	.	.	PUNCT
fbem-31693	87	1	5	5	X
fbem-31693	87	2	.	.	X
fbem-31693	87	3	suggestions	suggestion	NOUN
fbem-31693	87	4	for	for	ADP
fbem-31693	87	5	optimizing	optimize	VERB
fbem-31693	87	6	the	the	DET
fbem-31693	87	7	regulatory	regulatory	ADJ
fbem-31693	87	8	framework	framework	NOUN
fbem-31693	87	9	of	of	ADP
fbem-31693	87	10	stablecoins	stablecoin	NOUN
fbem-31693	87	11	5.1	5.1	NUM
fbem-31693	87	12	.	.	PUNCT
fbem-31693	88	1	improve	improve	VERB
fbem-31693	88	2	regulatory	regulatory	ADJ
fbem-31693	88	3	rules	rule	NOUN
fbem-31693	88	4	5.1.1	5.1.1	NUM
fbem-31693	88	5	.	.	PUNCT
fbem-31693	89	1	clarify	clarify	VERB
fbem-31693	89	2	the	the	DET
fbem-31693	89	3	regulatory	regulatory	ADJ
fbem-31693	89	4	body	body	NOUN
fbem-31693	89	5	and	and	CCONJ
fbem-31693	89	6	responsibilities	responsibility	NOUN
fbem-31693	89	7	given	give	VERB
fbem-31693	89	8	the	the	DET
fbem-31693	89	9	cross	cross	NOUN
fbem-31693	89	10	disciplinary	disciplinary	ADJ
fbem-31693	89	11	and	and	CCONJ
fbem-31693	89	12	cross	cross	VERB
fbem-31693	89	13	industry	industry	NOUN
fbem-31693	89	14	nature	nature	NOUN
fbem-31693	89	15	of	of	ADP
fbem-31693	89	16	stablecoin	stablecoin	NOUN
fbem-31693	89	17	business	business	NOUN
fbem-31693	89	18	,	,	PUNCT
fbem-31693	89	19	it	it	PRON
fbem-31693	89	20	is	be	AUX
fbem-31693	89	21	recommended	recommend	VERB
fbem-31693	89	22	to	to	PART
fbem-31693	89	23	clarify	clarify	VERB
fbem-31693	89	24	that	that	SCONJ
fbem-31693	89	25	the	the	DET
fbem-31693	89	26	central	central	ADJ
fbem-31693	89	27	bank	bank	NOUN
fbem-31693	89	28	serves	serve	VERB
fbem-31693	89	29	as	as	ADP
fbem-31693	89	30	the	the	DET
fbem-31693	89	31	leading	lead	VERB
fbem-31693	89	32	department	department	NOUN
fbem-31693	89	33	for	for	ADP
fbem-31693	89	34	stablecoin	stablecoin	ADJ
fbem-31693	89	35	regulation	regulation	NOUN
fbem-31693	89	36	,	,	PUNCT
fbem-31693	89	37	fully	fully	ADV
fbem-31693	89	38	leveraging	leverage	VERB
fbem-31693	89	39	its	its	PRON
fbem-31693	89	40	professional	professional	ADJ
fbem-31693	89	41	advantages	advantage	NOUN
fbem-31693	89	42	and	and	CCONJ
fbem-31693	89	43	core	core	NOUN
fbem-31693	89	44	position	position	NOUN
fbem-31693	89	45	in	in	ADP
fbem-31693	89	46	currency	currency	NOUN
fbem-31693	89	47	issuance	issuance	NOUN
fbem-31693	89	48	,	,	PUNCT
fbem-31693	89	49	monetary	monetary	ADJ
fbem-31693	89	50	policy	policy	NOUN
fbem-31693	89	51	regulation	regulation	NOUN
fbem-31693	89	52	,	,	PUNCT
fbem-31693	89	53	and	and	CCONJ
fbem-31693	89	54	financial	financial	ADJ
fbem-31693	89	55	stability	stability	NOUN
fbem-31693	89	56	maintenance	maintenance	NOUN
fbem-31693	89	57	.	.	PUNCT
fbem-31693	90	1	at	at	ADP
fbem-31693	90	2	the	the	DET
fbem-31693	90	3	same	same	ADJ
fbem-31693	90	4	time	time	NOUN
fbem-31693	90	5	,	,	PUNCT
fbem-31693	90	6	clarify	clarify	VERB
fbem-31693	90	7	the	the	DET
fbem-31693	90	8	responsibilities	responsibility	NOUN
fbem-31693	90	9	and	and	CCONJ
fbem-31693	90	10	boundaries	boundary	NOUN
fbem-31693	90	11	of	of	ADP
fbem-31693	90	12	relevant	relevant	ADJ
fbem-31693	90	13	departments	department	NOUN
fbem-31693	90	14	such	such	ADJ
fbem-31693	90	15	as	as	ADP
fbem-31693	90	16	financial	financial	ADJ
fbem-31693	90	17	regulatory	regulatory	ADJ
fbem-31693	90	18	agencies	agency	NOUN
fbem-31693	90	19	,	,	PUNCT
fbem-31693	90	20	securities	security	NOUN
fbem-31693	90	21	regulatory	regulatory	ADJ
fbem-31693	90	22	agencies	agency	NOUN
fbem-31693	90	23	,	,	PUNCT
fbem-31693	90	24	and	and	CCONJ
fbem-31693	90	25	foreign	foreign	ADJ
fbem-31693	90	26	exchange	exchange	NOUN
fbem-31693	90	27	management	management	NOUN
fbem-31693	90	28	departments	department	NOUN
fbem-31693	90	29	,	,	PUNCT
fbem-31693	90	30	and	and	CCONJ
fbem-31693	90	31	establish	establish	VERB
fbem-31693	90	32	a	a	DET
fbem-31693	90	33	sound	sound	ADJ
fbem-31693	90	34	collaborative	collaborative	ADJ
fbem-31693	90	35	regulatory	regulatory	ADJ
fbem-31693	90	36	mechanism	mechanism	NOUN
fbem-31693	90	37	.	.	PUNCT
fbem-31693	91	1	the	the	DET
fbem-31693	91	2	central	central	ADJ
fbem-31693	91	3	bank	bank	NOUN
fbem-31693	91	4	is	be	AUX
fbem-31693	91	5	responsible	responsible	ADJ
fbem-31693	91	6	for	for	ADP
fbem-31693	91	7	regulating	regulate	VERB
fbem-31693	91	8	the	the	DET
fbem-31693	91	9	total	total	ADJ
fbem-31693	91	10	issuance	issuance	NOUN
fbem-31693	91	11	of	of	ADP
fbem-31693	91	12	stablecoins	stablecoin	NOUN
fbem-31693	91	13	,	,	PUNCT
fbem-31693	91	14	evaluating	evaluate	VERB
fbem-31693	91	15	the	the	DET
fbem-31693	91	16	impact	impact	NOUN
fbem-31693	91	17	of	of	ADP
fbem-31693	91	18	monetary	monetary	ADJ
fbem-31693	91	19	policy	policy	NOUN
fbem-31693	91	20	,	,	PUNCT
fbem-31693	91	21	and	and	CCONJ
fbem-31693	91	22	preventing	prevent	VERB
fbem-31693	91	23	systemic	systemic	ADJ
fbem-31693	91	24	risks	risk	NOUN
fbem-31693	91	25	.	.	PUNCT
fbem-31693	92	1	5.1.2	5.1.2	X
fbem-31693	92	2	.	.	X
fbem-31693	92	3	strengthen	strengthen	VERB
fbem-31693	92	4	the	the	DET
fbem-31693	92	5	supervision	supervision	NOUN
fbem-31693	92	6	of	of	ADP
fbem-31693	92	7	issuing	issue	VERB
fbem-31693	92	8	entities	entity	NOUN
fbem-31693	92	9	establish	establish	VERB
fbem-31693	92	10	a	a	DET
fbem-31693	92	11	strict	strict	ADJ
fbem-31693	92	12	qualification	qualification	NOUN
fbem-31693	92	13	review	review	NOUN
fbem-31693	92	14	system	system	NOUN
fbem-31693	92	15	for	for	ADP
fbem-31693	92	16	stablecoin	stablecoin	NOUN
fbem-31693	92	17	issuers	issuer	NOUN
fbem-31693	92	18	,	,	PUNCT
fbem-31693	92	19	requiring	require	VERB
fbem-31693	92	20	them	they	PRON
fbem-31693	92	21	to	to	PART
fbem-31693	92	22	have	have	VERB
fbem-31693	92	23	sufficient	sufficient	ADJ
fbem-31693	92	24	capital	capital	NOUN
fbem-31693	92	25	strength	strength	NOUN
fbem-31693	92	26	,	,	PUNCT
fbem-31693	92	27	professional	professional	ADJ
fbem-31693	92	28	technical	technical	ADJ
fbem-31693	92	29	teams	team	NOUN
fbem-31693	92	30	,	,	PUNCT
fbem-31693	92	31	and	and	CCONJ
fbem-31693	92	32	sound	sound	ADJ
fbem-31693	92	33	risk	risk	NOUN
fbem-31693	92	34	management	management	NOUN
fbem-31693	92	35	systems	system	NOUN
fbem-31693	92	36	.	.	PUNCT
fbem-31693	93	1	clearly	clearly	ADV
fbem-31693	93	2	define	define	VERB
fbem-31693	93	3	admission	admission	NOUN
fbem-31693	93	4	standards	standard	NOUN
fbem-31693	93	5	such	such	ADJ
fbem-31693	93	6	as	as	ADP
fbem-31693	93	7	minimum	minimum	ADJ
fbem-31693	93	8	registered	register	VERB
fbem-31693	93	9	capital	capital	NOUN
fbem-31693	93	10	and	and	CCONJ
fbem-31693	93	11	core	core	NOUN
fbem-31693	93	12	management	management	NOUN
fbem-31693	93	13	personnel	personnel	NOUN
fbem-31693	93	14	qualifications	qualification	NOUN
fbem-31693	93	15	.	.	PUNCT
fbem-31693	94	1	establish	establish	VERB
fbem-31693	94	2	a	a	DET
fbem-31693	94	3	dynamic	dynamic	ADJ
fbem-31693	94	4	regulatory	regulatory	ADJ
fbem-31693	94	5	mechanism	mechanism	NOUN
fbem-31693	94	6	for	for	ADP
fbem-31693	94	7	capital	capital	NOUN
fbem-31693	94	8	adequacy	adequacy	NOUN
fbem-31693	94	9	ratio	ratio	NOUN
fbem-31693	94	10	,	,	PUNCT
fbem-31693	94	11	set	set	VERB
fbem-31693	94	12	differentiated	differentiated	ADJ
fbem-31693	94	13	capital	capital	NOUN
fbem-31693	94	14	adequacy	adequacy	NOUN
fbem-31693	94	15	ratio	ratio	NOUN
fbem-31693	94	16	requirements	requirement	NOUN
fbem-31693	94	17	based	base	VERB
fbem-31693	94	18	on	on	ADP
fbem-31693	94	19	the	the	DET
fbem-31693	94	20	scale	scale	NOUN
fbem-31693	94	21	of	of	ADP
fbem-31693	94	22	stablecoin	stablecoin	ADJ
fbem-31693	94	23	issuance	issuance	NOUN
fbem-31693	94	24	,	,	PUNCT
fbem-31693	94	25	business	business	NOUN
fbem-31693	94	26	complexity	complexity	NOUN
fbem-31693	94	27	,	,	PUNCT
fbem-31693	94	28	and	and	CCONJ
fbem-31693	94	29	risk	risk	NOUN
fbem-31693	94	30	level	level	NOUN
fbem-31693	94	31	,	,	PUNCT
fbem-31693	94	32	and	and	CCONJ
fbem-31693	94	33	implement	implement	VERB
fbem-31693	94	34	regular	regular	ADJ
fbem-31693	94	35	evaluations	evaluation	NOUN
fbem-31693	94	36	and	and	CCONJ
fbem-31693	94	37	dynamic	dynamic	ADJ
fbem-31693	94	38	adjustments	adjustment	NOUN
fbem-31693	94	39	.	.	PUNCT
fbem-31693	95	1	5.2	5.2	NUM
fbem-31693	95	2	.	.	PUNCT
fbem-31693	96	1	strengthen	strengthen	VERB
fbem-31693	96	2	risk	risk	NOUN
fbem-31693	96	3	prevention	prevention	NOUN
fbem-31693	96	4	and	and	CCONJ
fbem-31693	96	5	control	control	NOUN
fbem-31693	96	6	utilize	utilize	VERB
fbem-31693	96	7	cutting	cut	VERB
fbem-31693	96	8	-	-	PUNCT
fbem-31693	96	9	edge	edge	NOUN
fbem-31693	96	10	technologies	technology	NOUN
fbem-31693	96	11	such	such	ADJ
fbem-31693	96	12	as	as	ADP
fbem-31693	96	13	big	big	ADJ
fbem-31693	96	14	data	datum	NOUN
fbem-31693	96	15	,	,	PUNCT
fbem-31693	96	16	artificial	artificial	ADJ
fbem-31693	96	17	intelligence	intelligence	NOUN
fbem-31693	96	18	,	,	PUNCT
fbem-31693	96	19	and	and	CCONJ
fbem-31693	96	20	blockchain	blockchain	NOUN
fbem-31693	96	21	to	to	PART
fbem-31693	96	22	build	build	VERB
fbem-31693	96	23	a	a	DET
fbem-31693	96	24	comprehensive	comprehensive	ADJ
fbem-31693	96	25	stablecoin	stablecoin	NOUN
fbem-31693	96	26	risk	risk	NOUN
fbem-31693	96	27	monitoring	monitoring	NOUN
fbem-31693	96	28	indicator	indicator	NOUN
fbem-31693	96	29	system	system	NOUN
fbem-31693	96	30	.	.	PUNCT
fbem-31693	97	1	covering	cover	VERB
fbem-31693	97	2	liquidity	liquidity	NOUN
fbem-31693	97	3	risk	risk	NOUN
fbem-31693	97	4	indicators	indicator	NOUN
fbem-31693	97	5	,	,	PUNCT
fbem-31693	97	6	credit	credit	NOUN
fbem-31693	97	7	risk	risk	NOUN
fbem-31693	97	8	indicators	indicator	NOUN
fbem-31693	97	9	,	,	PUNCT
fbem-31693	97	10	market	market	NOUN
fbem-31693	97	11	risk	risk	NOUN
fbem-31693	97	12	indicators	indicator	NOUN
fbem-31693	97	13	,	,	PUNCT
fbem-31693	97	14	and	and	CCONJ
fbem-31693	97	15	systemic	systemic	ADJ
fbem-31693	97	16	risk	risk	NOUN
fbem-31693	97	17	indicators	indicator	NOUN
fbem-31693	97	18	.	.	PUNCT
fbem-31693	98	1	by	by	ADP
fbem-31693	98	2	real	real	ADJ
fbem-31693	98	3	-	-	PUNCT
fbem-31693	98	4	time	time	NOUN
fbem-31693	98	5	collection	collection	NOUN
fbem-31693	98	6	and	and	CCONJ
fbem-31693	98	7	analysis	analysis	NOUN
fbem-31693	98	8	of	of	ADP
fbem-31693	98	9	stablecoin	stablecoin	ADJ
fbem-31693	98	10	market	market	NOUN
fbem-31693	98	11	trading	trading	NOUN
fbem-31693	98	12	data	datum	NOUN
fbem-31693	98	13	,	,	PUNCT
fbem-31693	98	14	issuing	issue	VERB
fbem-31693	98	15	institution	institution	NOUN
fbem-31693	98	16	operation	operation	NOUN
fbem-31693	98	17	data	datum	NOUN
fbem-31693	98	18	,	,	PUNCT
fbem-31693	98	19	and	and	CCONJ
fbem-31693	98	20	macroeconomic	macroeconomic	ADJ
fbem-31693	98	21	data	datum	NOUN
fbem-31693	98	22	,	,	PUNCT
fbem-31693	98	23	a	a	DET
fbem-31693	98	24	risk	risk	NOUN
fbem-31693	98	25	warning	warning	NOUN
fbem-31693	98	26	model	model	NOUN
fbem-31693	98	27	is	be	AUX
fbem-31693	98	28	established	establish	VERB
fbem-31693	98	29	,	,	PUNCT
fbem-31693	98	30	and	and	CCONJ
fbem-31693	98	31	multi	multi	ADJ
fbem-31693	98	32	-	-	ADJ
fbem-31693	98	33	level	level	ADJ
fbem-31693	98	34	warning	warning	NOUN
fbem-31693	98	35	thresholds	threshold	NOUN
fbem-31693	98	36	are	be	AUX
fbem-31693	98	37	set	set	VERB
fbem-31693	98	38	.	.	PUNCT
fbem-31693	99	1	once	once	ADV
fbem-31693	99	2	a	a	DET
fbem-31693	99	3	warning	warning	NOUN
fbem-31693	99	4	signal	signal	NOUN
fbem-31693	99	5	is	be	AUX
fbem-31693	99	6	triggered	trigger	VERB
fbem-31693	99	7	,	,	PUNCT
fbem-31693	99	8	risk	risk	NOUN
fbem-31693	99	9	warnings	warning	NOUN
fbem-31693	99	10	are	be	AUX
fbem-31693	99	11	promptly	promptly	ADV
fbem-31693	99	12	issued	issue	VERB
fbem-31693	99	13	to	to	ADP
fbem-31693	99	14	regulatory	regulatory	ADJ
fbem-31693	99	15	agencies	agency	NOUN
fbem-31693	99	16	and	and	CCONJ
fbem-31693	99	17	market	market	NOUN
fbem-31693	99	18	entities	entity	NOUN
fbem-31693	99	19	,	,	PUNCT
fbem-31693	99	20	achieving	achieve	VERB
fbem-31693	99	21	early	early	ADJ
fbem-31693	99	22	detection	detection	NOUN
fbem-31693	99	23	,	,	PUNCT
fbem-31693	99	24	warning	warning	NOUN
fbem-31693	99	25	,	,	PUNCT
fbem-31693	99	26	and	and	CCONJ
fbem-31693	99	27	disposal	disposal	NOUN
fbem-31693	99	28	of	of	ADP
fbem-31693	99	29	risks	risk	NOUN
fbem-31693	99	30	.	.	PUNCT
fbem-31693	100	1	5.3	5.3	NUM
fbem-31693	100	2	.	.	PUNCT
fbem-31693	100	3	promoting	promote	VERB
fbem-31693	100	4	international	international	ADJ
fbem-31693	100	5	regulatory	regulatory	ADJ
fbem-31693	100	6	cooperation	cooperation	NOUN
fbem-31693	100	7	5.3.1	5.3.1	NUM
fbem-31693	100	8	.	.	PUNCT
fbem-31693	100	9	unified	unify	VERB
fbem-31693	100	10	regulatory	regulatory	ADJ
fbem-31693	100	11	standards	standard	NOUN
fbem-31693	100	12	the	the	DET
fbem-31693	100	13	international	international	ADJ
fbem-31693	100	14	community	community	NOUN
fbem-31693	100	15	should	should	AUX
fbem-31693	100	16	accelerate	accelerate	VERB
fbem-31693	100	17	the	the	DET
fbem-31693	100	18	development	development	NOUN
fbem-31693	100	19	of	of	ADP
fbem-31693	100	20	unified	unified	ADJ
fbem-31693	100	21	international	international	ADJ
fbem-31693	100	22	regulatory	regulatory	ADJ
fbem-31693	100	23	standards	standard	NOUN
fbem-31693	100	24	for	for	ADP
fbem-31693	100	25	stablecoins	stablecoin	NOUN
fbem-31693	100	26	under	under	ADP
fbem-31693	100	27	the	the	DET
fbem-31693	100	28	coordination	coordination	NOUN
fbem-31693	100	29	of	of	ADP
fbem-31693	100	30	international	international	ADJ
fbem-31693	100	31	organizations	organization	NOUN
fbem-31693	100	32	such	such	ADJ
fbem-31693	100	33	as	as	ADP
fbem-31693	100	34	the	the	DET
fbem-31693	100	35	imf	imf	PROPN
fbem-31693	100	36	and	and	CCONJ
fbem-31693	100	37	fsb	fsb	NOUN
fbem-31693	100	38	.	.	PUNCT
fbem-31693	101	1	reaching	reach	VERB
fbem-31693	101	2	consensus	consensus	NOUN
fbem-31693	101	3	in	in	ADP
fbem-31693	101	4	key	key	ADJ
fbem-31693	101	5	areas	area	NOUN
fbem-31693	101	6	such	such	ADJ
fbem-31693	101	7	as	as	ADP
fbem-31693	101	8	issuing	issue	VERB
fbem-31693	101	9	entity	entity	NOUN
fbem-31693	101	10	qualifications	qualification	NOUN
fbem-31693	101	11	,	,	PUNCT
fbem-31693	101	12	reserve	reserve	NOUN
fbem-31693	101	13	asset	asset	NOUN
fbem-31693	101	14	requirements	requirement	NOUN
fbem-31693	101	15	,	,	PUNCT
fbem-31693	101	16	information	information	NOUN
fbem-31693	101	17	disclosure	disclosure	NOUN
fbem-31693	101	18	standards	standard	NOUN
fbem-31693	101	19	,	,	PUNCT
fbem-31693	101	20	and	and	CCONJ
fbem-31693	101	21	risk	risk	NOUN
fbem-31693	101	22	prevention	prevention	NOUN
fbem-31693	101	23	and	and	CCONJ
fbem-31693	101	24	control	control	NOUN
fbem-31693	101	25	measures	measure	NOUN
fbem-31693	101	26	,	,	PUNCT
fbem-31693	101	27	eliminating	eliminate	VERB
fbem-31693	101	28	differences	difference	NOUN
fbem-31693	101	29	in	in	ADP
fbem-31693	101	30	regulatory	regulatory	ADJ
fbem-31693	101	31	standards	standard	NOUN
fbem-31693	101	32	,	,	PUNCT
fbem-31693	101	33	and	and	CCONJ
fbem-31693	101	34	compressing	compress	VERB
fbem-31693	101	35	regulatory	regulatory	ADJ
fbem-31693	101	36	arbitrage	arbitrage	NOUN
fbem-31693	101	37	space	space	NOUN
fbem-31693	101	38	.	.	PUNCT
fbem-31693	102	1	establish	establish	VERB
fbem-31693	102	2	a	a	DET
fbem-31693	102	3	dynamic	dynamic	ADJ
fbem-31693	102	4	update	update	NOUN
fbem-31693	102	5	mechanism	mechanism	NOUN
fbem-31693	102	6	for	for	ADP
fbem-31693	102	7	international	international	ADJ
fbem-31693	102	8	regulatory	regulatory	ADJ
fbem-31693	102	9	standards	standard	NOUN
fbem-31693	102	10	for	for	ADP
fbem-31693	102	11	stablecoins	stablecoin	NOUN
fbem-31693	102	12	,	,	PUNCT
fbem-31693	102	13	adjust	adjust	VERB
fbem-31693	102	14	and	and	CCONJ
fbem-31693	102	15	improve	improve	VERB
fbem-31693	102	16	regulatory	regulatory	ADJ
fbem-31693	102	17	standards	standard	NOUN
fbem-31693	102	18	in	in	ADP
fbem-31693	102	19	a	a	DET
fbem-31693	102	20	timely	timely	ADJ
fbem-31693	102	21	manner	manner	NOUN
fbem-31693	102	22	based	base	VERB
fbem-31693	102	23	on	on	ADP
fbem-31693	102	24	market	market	NOUN
fbem-31693	102	25	development	development	NOUN
fbem-31693	102	26	and	and	CCONJ
fbem-31693	102	27	technological	technological	ADJ
fbem-31693	102	28	innovation	innovation	NOUN
fbem-31693	102	29	,	,	PUNCT
fbem-31693	102	30	ensure	ensure	VERB
fbem-31693	102	31	the	the	DET
fbem-31693	102	32	adaptability	adaptability	NOUN
fbem-31693	102	33	and	and	CCONJ
fbem-31693	102	34	effectiveness	effectiveness	NOUN
fbem-31693	102	35	of	of	ADP
fbem-31693	102	36	regulatory	regulatory	ADJ
fbem-31693	102	37	standards	standard	NOUN
fbem-31693	102	38	,	,	PUNCT
fbem-31693	102	39	4	4	NUM
fbem-31693	102	40	promote	promote	VERB
fbem-31693	102	41	the	the	DET
fbem-31693	102	42	convergence	convergence	NOUN
fbem-31693	102	43	of	of	ADP
fbem-31693	102	44	regulatory	regulatory	ADJ
fbem-31693	102	45	rules	rule	NOUN
fbem-31693	102	46	in	in	ADP
fbem-31693	102	47	the	the	DET
fbem-31693	102	48	global	global	ADJ
fbem-31693	102	49	stablecoin	stablecoin	NOUN
fbem-31693	102	50	market	market	NOUN
fbem-31693	102	51	,	,	PUNCT
fbem-31693	102	52	and	and	CCONJ
fbem-31693	102	53	create	create	VERB
fbem-31693	102	54	a	a	DET
fbem-31693	102	55	fair	fair	ADJ
fbem-31693	102	56	and	and	CCONJ
fbem-31693	102	57	orderly	orderly	ADJ
fbem-31693	102	58	international	international	ADJ
fbem-31693	102	59	competitive	competitive	ADJ
fbem-31693	102	60	environment	environment	NOUN
fbem-31693	102	61	.	.	PUNCT
fbem-31693	103	1	5.3.2	5.3.2	X
fbem-31693	103	2	.	.	PUNCT
fbem-31693	104	1	strengthen	strengthen	VERB
fbem-31693	104	2	cross	cross	ADJ
fbem-31693	104	3	-	-	ADJ
fbem-31693	104	4	border	border	ADJ
fbem-31693	104	5	regulatory	regulatory	ADJ
fbem-31693	104	6	coordination	coordination	NOUN
fbem-31693	104	7	establish	establish	VERB
fbem-31693	104	8	an	an	DET
fbem-31693	104	9	international	international	ADJ
fbem-31693	104	10	stablecoin	stablecoin	ADJ
fbem-31693	104	11	regulatory	regulatory	ADJ
fbem-31693	104	12	information	information	NOUN
fbem-31693	104	13	sharing	sharing	NOUN
fbem-31693	104	14	platform	platform	NOUN
fbem-31693	104	15	,	,	PUNCT
fbem-31693	104	16	unify	unify	VERB
fbem-31693	104	17	data	data	NOUN
fbem-31693	104	18	standards	standard	NOUN
fbem-31693	104	19	and	and	CCONJ
fbem-31693	104	20	information	information	NOUN
fbem-31693	104	21	exchange	exchange	NOUN
fbem-31693	104	22	formats	format	NOUN
fbem-31693	104	23	,	,	PUNCT
fbem-31693	104	24	and	and	CCONJ
fbem-31693	104	25	achieve	achieve	VERB
fbem-31693	104	26	real	real	ADJ
fbem-31693	104	27	-	-	PUNCT
fbem-31693	104	28	time	time	NOUN
fbem-31693	104	29	sharing	sharing	NOUN
fbem-31693	104	30	and	and	CCONJ
fbem-31693	104	31	rapid	rapid	ADJ
fbem-31693	104	32	interaction	interaction	NOUN
fbem-31693	104	33	of	of	ADP
fbem-31693	104	34	stablecoin	stablecoin	ADJ
fbem-31693	104	35	trading	trading	NOUN
fbem-31693	104	36	data	datum	NOUN
fbem-31693	104	37	,	,	PUNCT
fbem-31693	104	38	issuing	issue	VERB
fbem-31693	104	39	institution	institution	NOUN
fbem-31693	104	40	operation	operation	NOUN
fbem-31693	104	41	data	datum	NOUN
fbem-31693	104	42	,	,	PUNCT
fbem-31693	104	43	and	and	CCONJ
fbem-31693	104	44	risk	risk	NOUN
fbem-31693	104	45	monitoring	monitor	VERB
fbem-31693	104	46	data	datum	NOUN
fbem-31693	104	47	among	among	ADP
fbem-31693	104	48	regulatory	regulatory	ADJ
fbem-31693	104	49	agencies	agency	NOUN
fbem-31693	104	50	in	in	ADP
fbem-31693	104	51	various	various	ADJ
fbem-31693	104	52	countries	country	NOUN
fbem-31693	104	53	.	.	PUNCT
fbem-31693	105	1	strengthen	strengthen	VERB
fbem-31693	105	2	crossborder	crossborder	NOUN
fbem-31693	105	3	regulatory	regulatory	ADJ
fbem-31693	105	4	and	and	CCONJ
fbem-31693	105	5	law	law	NOUN
fbem-31693	105	6	enforcement	enforcement	NOUN
fbem-31693	105	7	cooperation	cooperation	NOUN
fbem-31693	105	8	,	,	PUNCT
fbem-31693	105	9	sign	sign	VERB
fbem-31693	105	10	bilateral	bilateral	ADJ
fbem-31693	105	11	or	or	CCONJ
fbem-31693	105	12	multilateral	multilateral	ADJ
fbem-31693	105	13	regulatory	regulatory	ADJ
fbem-31693	105	14	cooperation	cooperation	NOUN
fbem-31693	105	15	agreements	agreement	NOUN
fbem-31693	105	16	,	,	PUNCT
fbem-31693	105	17	clarify	clarify	VERB
fbem-31693	105	18	cross	cross	ADJ
fbem-31693	105	19	-	-	ADJ
fbem-31693	105	20	border	border	ADJ
fbem-31693	105	21	regulatory	regulatory	ADJ
fbem-31693	105	22	and	and	CCONJ
fbem-31693	105	23	law	law	NOUN
fbem-31693	105	24	enforcement	enforcement	NOUN
fbem-31693	105	25	procedures	procedure	NOUN
fbem-31693	105	26	and	and	CCONJ
fbem-31693	105	27	cooperation	cooperation	NOUN
fbem-31693	105	28	mechanisms	mechanism	NOUN
fbem-31693	105	29	,	,	PUNCT
fbem-31693	105	30	establish	establish	VERB
fbem-31693	105	31	joint	joint	ADJ
fbem-31693	105	32	law	law	NOUN
fbem-31693	105	33	enforcement	enforcement	NOUN
fbem-31693	105	34	working	work	VERB
fbem-31693	105	35	groups	group	NOUN
fbem-31693	105	36	,	,	PUNCT
fbem-31693	105	37	and	and	CCONJ
fbem-31693	105	38	jointly	jointly	ADV
fbem-31693	105	39	crack	crack	VERB
fbem-31693	105	40	down	down	ADP
fbem-31693	105	41	on	on	ADP
fbem-31693	105	42	cross	cross	ADJ
fbem-31693	105	43	-	-	ADJ
fbem-31693	105	44	border	border	ADJ
fbem-31693	105	45	illegal	illegal	ADJ
fbem-31693	105	46	and	and	CCONJ
fbem-31693	105	47	irregular	irregular	ADJ
fbem-31693	105	48	activities	activity	NOUN
fbem-31693	105	49	of	of	ADP
fbem-31693	105	50	stablecoins	stablecoin	NOUN
fbem-31693	105	51	.	.	PUNCT
fbem-31693	106	1	promote	promote	VERB
fbem-31693	106	2	mutual	mutual	ADJ
fbem-31693	106	3	recognition	recognition	NOUN
fbem-31693	106	4	of	of	ADP
fbem-31693	106	5	international	international	ADJ
fbem-31693	106	6	regulatory	regulatory	ADJ
fbem-31693	106	7	rules	rule	NOUN
fbem-31693	106	8	,	,	PUNCT
fbem-31693	106	9	reduce	reduce	VERB
fbem-31693	106	10	cross	cross	ADJ
fbem-31693	106	11	-	-	ADJ
fbem-31693	106	12	border	border	ADJ
fbem-31693	106	13	regulatory	regulatory	ADJ
fbem-31693	106	14	conflicts	conflict	NOUN
fbem-31693	106	15	,	,	PUNCT
fbem-31693	106	16	improve	improve	VERB
fbem-31693	106	17	crossborder	crossborder	NOUN
fbem-31693	106	18	regulatory	regulatory	ADJ
fbem-31693	106	19	efficiency	efficiency	NOUN
fbem-31693	106	20	,	,	PUNCT
fbem-31693	106	21	form	form	VERB
fbem-31693	106	22	a	a	DET
fbem-31693	106	23	global	global	ADJ
fbem-31693	106	24	regulatory	regulatory	ADJ
fbem-31693	106	25	force	force	NOUN
fbem-31693	106	26	for	for	ADP
fbem-31693	106	27	stablecoins	stablecoin	NOUN
fbem-31693	106	28	,	,	PUNCT
fbem-31693	106	29	and	and	CCONJ
fbem-31693	106	30	jointly	jointly	ADV
fbem-31693	106	31	maintain	maintain	VERB
fbem-31693	106	32	the	the	DET
fbem-31693	106	33	stability	stability	NOUN
fbem-31693	106	34	of	of	ADP
fbem-31693	106	35	the	the	DET
fbem-31693	106	36	international	international	ADJ
fbem-31693	106	37	financial	financial	ADJ
fbem-31693	106	38	market	market	NOUN
fbem-31693	106	39	.	.	PUNCT
fbem-31693	107	1	6	6	X
fbem-31693	107	2	.	.	X
fbem-31693	107	3	conclusion	conclusion	NOUN
fbem-31693	107	4	this	this	DET
fbem-31693	107	5	study	study	NOUN
fbem-31693	107	6	deeply	deeply	ADV
fbem-31693	107	7	analyzes	analyze	VERB
fbem-31693	107	8	the	the	DET
fbem-31693	107	9	impact	impact	NOUN
fbem-31693	107	10	mechanism	mechanism	NOUN
fbem-31693	107	11	of	of	ADP
fbem-31693	107	12	stablecoin	stablecoin	ADJ
fbem-31693	107	13	development	development	NOUN
fbem-31693	107	14	on	on	ADP
fbem-31693	107	15	financial	financial	ADJ
fbem-31693	107	16	system	system	NOUN
fbem-31693	107	17	risks	risk	NOUN
fbem-31693	107	18	and	and	CCONJ
fbem-31693	107	19	finds	find	VERB
fbem-31693	107	20	that	that	SCONJ
fbem-31693	107	21	stablecoins	stablecoin	NOUN
fbem-31693	107	22	pose	pose	VERB
fbem-31693	107	23	a	a	DET
fbem-31693	107	24	threat	threat	NOUN
fbem-31693	107	25	to	to	ADP
fbem-31693	107	26	financial	financial	ADJ
fbem-31693	107	27	system	system	NOUN
fbem-31693	107	28	stability	stability	NOUN
fbem-31693	107	29	through	through	ADP
fbem-31693	107	30	multiple	multiple	ADJ
fbem-31693	107	31	dimensions	dimension	NOUN
fbem-31693	107	32	such	such	ADJ
fbem-31693	107	33	as	as	ADP
fbem-31693	107	34	liquidity	liquidity	NOUN
fbem-31693	107	35	,	,	PUNCT
fbem-31693	107	36	credit	credit	NOUN
fbem-31693	107	37	,	,	PUNCT
fbem-31693	107	38	market	market	NOUN
fbem-31693	107	39	,	,	PUNCT
fbem-31693	107	40	and	and	CCONJ
fbem-31693	107	41	systemic	systemic	ADJ
fbem-31693	107	42	risks	risk	NOUN
fbem-31693	107	43	.	.	PUNCT
fbem-31693	108	1	its	its	PRON
fbem-31693	108	2	opaque	opaque	ADJ
fbem-31693	108	3	issuance	issuance	NOUN
fbem-31693	108	4	mechanism	mechanism	NOUN
fbem-31693	108	5	,	,	PUNCT
fbem-31693	108	6	reserve	reserve	NOUN
fbem-31693	108	7	asset	asset	NOUN
fbem-31693	108	8	risks	risk	NOUN
fbem-31693	108	9	,	,	PUNCT
fbem-31693	108	10	price	price	NOUN
fbem-31693	108	11	fluctuations	fluctuation	NOUN
fbem-31693	108	12	,	,	PUNCT
fbem-31693	108	13	and	and	CCONJ
fbem-31693	108	14	market	market	NOUN
fbem-31693	108	15	manipulation	manipulation	NOUN
fbem-31693	108	16	can	can	AUX
fbem-31693	108	17	easily	easily	ADV
fbem-31693	108	18	lead	lead	VERB
fbem-31693	108	19	to	to	ADP
fbem-31693	108	20	fund	fund	NOUN
fbem-31693	108	21	runs	run	NOUN
fbem-31693	108	22	,	,	PUNCT
fbem-31693	108	23	credit	credit	NOUN
fbem-31693	108	24	crises	crisis	NOUN
fbem-31693	108	25	,	,	PUNCT
fbem-31693	108	26	market	market	NOUN
fbem-31693	108	27	turbulence	turbulence	NOUN
fbem-31693	108	28	,	,	PUNCT
fbem-31693	108	29	and	and	CCONJ
fbem-31693	108	30	risk	risk	NOUN
fbem-31693	108	31	contagion	contagion	NOUN
fbem-31693	108	32	,	,	PUNCT
fbem-31693	108	33	increasing	increase	VERB
fbem-31693	108	34	the	the	DET
fbem-31693	108	35	vulnerability	vulnerability	NOUN
fbem-31693	108	36	of	of	ADP
fbem-31693	108	37	the	the	DET
fbem-31693	108	38	financial	financial	ADJ
fbem-31693	108	39	system	system	NOUN
fbem-31693	108	40	.	.	PUNCT
fbem-31693	109	1	although	although	SCONJ
fbem-31693	109	2	there	there	PRON
fbem-31693	109	3	has	have	AUX
fbem-31693	109	4	been	be	AUX
fbem-31693	109	5	some	some	DET
fbem-31693	109	6	progress	progress	NOUN
fbem-31693	109	7	in	in	ADP
fbem-31693	109	8	the	the	DET
fbem-31693	109	9	regulation	regulation	NOUN
fbem-31693	109	10	of	of	ADP
fbem-31693	109	11	international	international	ADJ
fbem-31693	109	12	stablecoins	stablecoin	NOUN
fbem-31693	109	13	,	,	PUNCT
fbem-31693	109	14	there	there	PRON
fbem-31693	109	15	are	be	VERB
fbem-31693	109	16	still	still	ADV
fbem-31693	109	17	prominent	prominent	ADJ
fbem-31693	109	18	issues	issue	NOUN
fbem-31693	109	19	such	such	ADJ
fbem-31693	109	20	as	as	ADP
fbem-31693	109	21	regulatory	regulatory	ADJ
fbem-31693	109	22	arbitrage	arbitrage	NOUN
fbem-31693	109	23	,	,	PUNCT
fbem-31693	109	24	regulatory	regulatory	ADJ
fbem-31693	109	25	gaps	gap	NOUN
fbem-31693	109	26	,	,	PUNCT
fbem-31693	109	27	and	and	CCONJ
fbem-31693	109	28	difficulties	difficulty	NOUN
fbem-31693	109	29	in	in	ADP
fbem-31693	109	30	coordinating	coordinate	VERB
fbem-31693	109	31	cross	cross	ADJ
fbem-31693	109	32	-	-	ADJ
fbem-31693	109	33	border	border	ADJ
fbem-31693	109	34	regulation	regulation	NOUN
fbem-31693	109	35	.	.	PUNCT
fbem-31693	110	1	the	the	DET
fbem-31693	110	2	suggestions	suggestion	NOUN
fbem-31693	110	3	for	for	ADP
fbem-31693	110	4	optimizing	optimize	VERB
fbem-31693	110	5	the	the	DET
fbem-31693	110	6	regulatory	regulatory	ADJ
fbem-31693	110	7	framework	framework	NOUN
fbem-31693	110	8	proposed	propose	VERB
fbem-31693	110	9	in	in	ADP
fbem-31693	110	10	response	response	NOUN
fbem-31693	110	11	to	to	ADP
fbem-31693	110	12	the	the	DET
fbem-31693	110	13	above	above	ADJ
fbem-31693	110	14	issues	issue	NOUN
fbem-31693	110	15	include	include	VERB
fbem-31693	110	16	improving	improve	VERB
fbem-31693	110	17	regulatory	regulatory	ADJ
fbem-31693	110	18	rules	rule	NOUN
fbem-31693	110	19	,	,	PUNCT
fbem-31693	110	20	strengthening	strengthen	VERB
fbem-31693	110	21	risk	risk	NOUN
fbem-31693	110	22	prevention	prevention	NOUN
fbem-31693	110	23	and	and	CCONJ
fbem-31693	110	24	control	control	NOUN
fbem-31693	110	25	,	,	PUNCT
fbem-31693	110	26	and	and	CCONJ
fbem-31693	110	27	promoting	promote	VERB
fbem-31693	110	28	international	international	ADJ
fbem-31693	110	29	regulatory	regulatory	ADJ
fbem-31693	110	30	cooperation	cooperation	NOUN
fbem-31693	110	31	.	.	PUNCT
fbem-31693	111	1	they	they	PRON
fbem-31693	111	2	have	have	VERB
fbem-31693	111	3	important	important	ADJ
fbem-31693	111	4	theoretical	theoretical	ADJ
fbem-31693	111	5	value	value	NOUN
fbem-31693	111	6	and	and	CCONJ
fbem-31693	111	7	practical	practical	ADJ
fbem-31693	111	8	guidance	guidance	NOUN
fbem-31693	111	9	for	for	ADP
fbem-31693	111	10	regulating	regulate	VERB
fbem-31693	111	11	the	the	DET
fbem-31693	111	12	development	development	NOUN
fbem-31693	111	13	of	of	ADP
fbem-31693	111	14	the	the	DET
fbem-31693	111	15	stablecoin	stablecoin	NOUN
fbem-31693	111	16	market	market	NOUN
fbem-31693	111	17	,	,	PUNCT
fbem-31693	111	18	preventing	prevent	VERB
fbem-31693	111	19	financial	financial	ADJ
fbem-31693	111	20	risks	risk	NOUN
fbem-31693	111	21	,	,	PUNCT
fbem-31693	111	22	and	and	CCONJ
fbem-31693	111	23	maintaining	maintain	VERB
fbem-31693	111	24	financial	financial	ADJ
fbem-31693	111	25	system	system	NOUN
fbem-31693	111	26	stability	stability	NOUN
fbem-31693	111	27	.	.	PUNCT
fbem-31693	112	1	references	reference	NOUN
fbem-31693	112	2	[	[	X
fbem-31693	112	3	1	1	NUM
fbem-31693	112	4	]	]	X
fbem-31693	112	5	zhu	zhu	PROPN
fbem-31693	112	6	b.	b.	PROPN
fbem-31693	112	7	stablecoin	stablecoin	PROPN
fbem-31693	112	8	runs	run	NOUN
fbem-31693	112	9	and	and	CCONJ
fbem-31693	112	10	disclosure	disclosure	NOUN
fbem-31693	112	11	policy	policy	NOUN
fbem-31693	112	12	in	in	ADP
fbem-31693	112	13	the	the	DET
fbem-31693	112	14	presence	presence	NOUN
fbem-31693	112	15	of	of	ADP
fbem-31693	112	16	large	large	ADJ
fbem-31693	112	17	sales	sale	NOUN
fbem-31693	113	1	[	[	X
fbem-31693	113	2	j	j	X
fbem-31693	113	3	]	]	X
fbem-31693	113	4	.	.	PUNCT
fbem-31693	114	1	2024	2024	NUM
fbem-31693	114	2	.	.	PUNCT
fbem-31693	115	1	[	[	X
fbem-31693	115	2	2	2	NUM
fbem-31693	115	3	]	]	PUNCT
fbem-31693	115	4	calomiris	calomiris	NOUN
fbem-31693	115	5	c	c	PROPN
fbem-31693	115	6	w.	w.	PROPN
fbem-31693	115	7	will	will	AUX
fbem-31693	115	8	fractional‐reserve	fractional‐reserve	VERB
fbem-31693	115	9	stablecoin	stablecoin	ADJ
fbem-31693	115	10	banking	banking	NOUN
fbem-31693	115	11	replace	replace	NOUN
fbem-31693	115	12	bitcoin	bitcoin	NOUN
fbem-31693	115	13	and	and	CCONJ
fbem-31693	115	14	some	some	DET
fbem-31693	115	15	traditional	traditional	ADJ
fbem-31693	115	16	banking	banking	NOUN
fbem-31693	115	17	payments	payment	NOUN
fbem-31693	115	18	?	?	PUNCT
fbem-31693	116	1	[	[	X
fbem-31693	116	2	j	j	X
fbem-31693	116	3	]	]	X
fbem-31693	116	4	.	.	PUNCT
fbem-31693	117	1	journal	journal	PROPN
fbem-31693	117	2	of	of	ADP
fbem-31693	117	3	applied	apply	VERB
fbem-31693	117	4	corporate	corporate	ADJ
fbem-31693	117	5	finance	finance	NOUN
fbem-31693	117	6	,	,	PUNCT
fbem-31693	117	7	2024	2024	NUM
fbem-31693	117	8	,	,	PUNCT
fbem-31693	117	9	36(1	36(1	NUM
fbem-31693	117	10	)	)	PUNCT
fbem-31693	117	11	.	.	PUNCT
fbem-31693	118	1	[	[	X
fbem-31693	118	2	3	3	X
fbem-31693	118	3	]	]	X
fbem-31693	118	4	lee	lee	PROPN
fbem-31693	118	5	y	y	PROPN
fbem-31693	118	6	h	h	PROPN
fbem-31693	118	7	,	,	PUNCT
fbem-31693	118	8	chiu	chiu	PROPN
fbem-31693	118	9	y	y	PROPN
fbem-31693	118	10	f	f	PROPN
fbem-31693	118	11	,	,	PUNCT
fbem-31693	118	12	hsieh	hsieh	PROPN
fbem-31693	118	13	m	m	PROPN
fbem-31693	118	14	h.	h.	PROPN
fbem-31693	118	15	stablecoin	stablecoin	PROPN
fbem-31693	118	16	depegging	depegge	VERB
fbem-31693	118	17	risk	risk	NOUN
fbem-31693	118	18	prediction	prediction	NOUN
fbem-31693	119	1	[	[	X
fbem-31693	119	2	j	j	X
fbem-31693	119	3	]	]	X
fbem-31693	119	4	.	.	PUNCT
fbem-31693	120	1	pacific	pacific	ADJ
fbem-31693	120	2	-	-	PUNCT
fbem-31693	120	3	basin	basin	NOUN
fbem-31693	120	4	finance	finance	NOUN
fbem-31693	120	5	journal	journal	NOUN
fbem-31693	120	6	,	,	PUNCT
fbem-31693	120	7	2025	2025	NUM
fbem-31693	120	8	,	,	PUNCT
fbem-31693	120	9	90	90	NUM
fbem-31693	120	10	.	.	PUNCT
fbem-31693	121	1	[	[	X
fbem-31693	121	2	4	4	NUM
fbem-31693	121	3	]	]	X
fbem-31693	121	4	saengchote	saengchote	NOUN
fbem-31693	121	5	k.	k.	PROPN
fbem-31693	122	1	a	a	DET
fbem-31693	122	2	defi	defi	PROPN
fbem-31693	122	3	bank	bank	PROPN
fbem-31693	122	4	run	run	NOUN
fbem-31693	122	5	:	:	PUNCT
fbem-31693	122	6	iron	iron	NOUN
fbem-31693	122	7	finance	finance	NOUN
fbem-31693	122	8	,	,	PUNCT
fbem-31693	122	9	iron	iron	NOUN
fbem-31693	122	10	stablecoin	stablecoin	NOUN
fbem-31693	122	11	,	,	PUNCT
fbem-31693	122	12	and	and	CCONJ
fbem-31693	122	13	the	the	DET
fbem-31693	122	14	fall	fall	NOUN
fbem-31693	122	15	of	of	ADP
fbem-31693	122	16	titan	titan	NOUN
fbem-31693	123	1	[	[	X
fbem-31693	123	2	j	j	X
fbem-31693	123	3	]	]	X
fbem-31693	123	4	.	.	PUNCT
fbem-31693	124	1	ssrn	ssrn	PROPN
fbem-31693	124	2	electronic	electronic	ADJ
fbem-31693	124	3	journal	journal	NOUN
fbem-31693	124	4	,	,	PUNCT
fbem-31693	124	5	2021	2021	NUM
fbem-31693	124	6	.	.	PUNCT
fbem-31693	125	1	[	[	X
fbem-31693	125	2	5	5	NUM
fbem-31693	125	3	]	]	PUNCT
fbem-31693	125	4	economics	economics	PROPN
fbem-31693	125	5	c.	c.	PROPN
fbem-31693	125	6	the	the	DET
fbem-31693	125	7	symmetric	symmetric	ADJ
fbem-31693	125	8	and	and	CCONJ
fbem-31693	125	9	asymmetric	asymmetric	ADJ
fbem-31693	125	10	algorithmic	algorithmic	ADJ
fbem-31693	125	11	trading	trading	NOUN
fbem-31693	125	12	strategies	strategy	NOUN
fbem-31693	125	13	for	for	ADP
fbem-31693	125	14	the	the	DET
fbem-31693	125	15	stablecoins	stablecoin	NOUN
fbem-31693	126	1	[	[	X
fbem-31693	126	2	j	j	X
fbem-31693	126	3	]	]	X
fbem-31693	126	4	.	.	PUNCT
fbem-31693	127	1	computational	computational	ADJ
fbem-31693	127	2	economics	economic	NOUN
fbem-31693	127	3	,	,	PUNCT
fbem-31693	127	4	2024	2024	NUM
fbem-31693	127	5	.	.	PUNCT