At a recent seminar, Zhu advocated for integrating RMB-backed stablecoins into China’s financial framework, highlighting that dollar-backed stablecoins reinforce U.S. Monetary dominance. He warns that without regulatory support, China risks lagging in digital finance.
Zhu proposed utilizing Hong Kong for stablecoin regulation, developing both domestic and offshore yuan-backed stablecoins. This approach aims to diversify settlement channels globally and gradually increase the international acceptance of the Chinese Yuan.
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