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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.
The $250 billion stablecoin market, dominated by Tether’s USDT ($158 billion) and Circle Internet’s (NYSE:CRCL) USDC ($62 ...
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.
China is considering allowing the usage of yuan-backed stablecoins for the first time in a move aimed at boosting the global ...
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 has been expanding use of digital currencies as it promotes wider use of its yuan, or renminbi, to reflect its status ...
China is reportedly exploring the introduction of a yuan-backed stablecoin, according to sources cited by Reuters. If ...
Cryptopolitan on MSN1d
China to legalize yuan-pegged stablecoins this month after 12-year crypto ban
China is preparing to lift its long-standing crypto ban by legalizing yuan-pegged stablecoins before the end of August, ...
Mainland China stocks advanced on Thursday, with the Shanghai benchmark closing at a decade high level, driven by hefty gains ...
The renminbi or RMB is the national currency of China, the arch rival of the U.S. in trade. As the Trump administration ...
Hong Kong dollar stablecoins can help mainland China’s only legal digital currency better position itself globally.
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