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Analysts Suggest Yuan-Backed Stablecoin as Countermeasure Against Dollarization
Analysts Suggest Yuan-Backed Stablecoin as Countermeasure Against Dollarization
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BTCCSquare news:
Chinese policymakers may need to explore digital yuan alternatives to mitigate the risks of dollarization fueled by stablecoin adoption, according to financial analysts. A potential solution could involve the issuance of a regulated yuan-pegged stablecoin, possibly originating from Hong Kong's newly established crypto framework.
Hong Kong's progressive stance on digital asset regulation positions it as a viable testing ground for such an initiative. The move WOULD represent a strategic effort to maintain monetary sovereignty amid growing global stablecoin circulation.
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