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China eyes Yuan-backed stablecoin to rival U.S dominance in crypto
China is considering launching a yuan-backed stablecoin to strengthen the currency’s global influence. The timing aligns with U.S. progress on regulated stablecoins, intensifying competition for leadership in global digital payments. China may be on the verge of a major shift in its digital asset policy.
China might permit yuan-backed stablecoins. This move aims to enhance the yuan's global presence. The State Council will ...
The special administrative region has become a pioneer in institutional and technological innovation. Its recent initiative represents a significant opportunity for the region and a crucial step in ...
The $250 billion stablecoin market, dominated by Tether’s USDT ($158 billion) and Circle Internet’s (NYSE:CRCL) USDC ($62 ...
China has been expanding use of digital currencies as it promotes wider use of its yuan, or renminbi, to reflect its status ...
India imposes one of the world’s harshest crypto tax regimes: a flat 30% levy on capital gains and a 1% tax deducted at ...
China is reportedly exploring the introduction of a yuan-backed stablecoin, according to sources cited by Reuters. If ...
The GENIUS Act's passage caught many in Europe off guard and sparked concerns dollar-backed stablecoins could tighten America’s grip on cross-border payments.
The renminbi or RMB is the national currency of China, the arch rival of the U.S. in trade. As the Trump administration ...
As U.S.-backed stablecoins gain traction, they threaten to bypass China’s financial controls. The Chinese government is poised to counter with its own tightly regulated digital money.
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