Asia Morning Briefing: Stablecoins Offer Beijing What e-CNY Canât in Cross-Border Use, Economist Says
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最新报道：China's focus on yuan-backed stablecoins is a strategic response to U.S. dollar dominance in global finance, driven by the U.S. GENIUS Act, according to analysts. While China prioritizes control via its e-CNY domestically, it sees stablecoins as essential for international trade and settlement. However, capital controls will keep any yuan token offshore, with Hong Kong as a testing ground. Japan is also advancing yen-backed stablecoins, highlighting Asia's broader race to compete with dollar-pegged tokens.
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