Epic Click Travel
China is weighing the introduction of Stable coins pegged to the yuan as part of a broader effort to expand the currency’s international reach. According to sources familiar with the discussions, Beijing is preparing a policy roadmap that could authorize offshore issuance of yuan-backed digital tokens under strict regulatory oversight.
The move would represent a significant policy shift, as China has previously banned cryptocurrencies while pushing its own central bank digital currency, the digital yuan (e-CNY). By allowing regulated yuan stablecoins—likely piloted in financial hubs such as Hong Kong and Shanghai—China aims to compete with the dominance of dollar-backed tokens in global payments.
Industry leaders, including major Chinese tech firms, have lobbied for the green light to issue these stable coins, arguing that they could enhance trade settlement and cross-border financial flows in yuan. Regulators remain cautious, citing risks of money laundering and capital flight, but the potential benefits align with Beijing’s long-term strategy of reducing reliance on the U.S. dollar in global finance.
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