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A report from Reuters suggests China is eyeing yuan-pegged stablecoins as a tool for internationalization.
This aligns with efforts to counter the overwhelming presence of US dollar stablecoins, which dominate the $265 billion market.
Hong Kong’s new regulatory framework could serve as a sandbox for these stablecoins, potentially linking the digital yuan to global assets.
This move might reshape cross-border financial dynamics significantly.
#CryptoNews