China's Crypto Policy Shifts: From ICO Ban to Yuan-Backed Stablecoin Ambitions
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最新报道：China is shifting from its 2017 ICO ban to actively developing yuan-backed stablecoins, with Hong Kong's Stablecoins Ordinance requiring full reserve backing and licensing by the HKMA. This move aims to boost the yuan's global use, challenge U.S. dollar dominance in stablecoins, and facilitate cross-border trade, particularly in Belt and Road Initiative nations. Projected to reach $2 trillion by 2028, the initiative offers growth for infrastructure firms like Conflux but faces risks from capital controls and geopolitical tensions.
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