China Considers First Yuan-Linked Stablecoins, Marking Policy Shift on Digital Assets: Report

According to a report by Reuters, China’s cabinet is expected to review and potentially approve a roadmap later this month aimed at promoting wider use of the yuan internationally.

China is reportedly getting closer to deciding whether it will allow the use of yuan-backed stablecoins for the first time.

According to a report by Reuters, China’s cabinet is expected to review and potentially approve a roadmap later this month aimed at promoting wider use of the yuan internationally. It said that the plan includes measures to accelerate China’s catch-up with U.S. efforts on stablecoins.

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