Chinese economists are urging the government to explore yuan-linked stablecoins to enhance global payment systems, particularly as the US strengthens its regulatory framework for cryptocurrencies.
The People’s Bank of China officials emphasize the potential for stablecoins to transform the global payment landscape, marking a shift in China’s approach to digital currency.
Hong Kong is positioned as a crucial testing ground for stablecoin initiatives, with local firms seeking licenses to operate in a new regulatory environment.
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