China Explores Yuan-Based Stablecoin Strategy Amid Crypto Ban
Chinese regulators are intensifying scrutiny of digital currencies despite maintaining a ban on cryptocurrency trading. Shanghai officials convened a high-level meeting this week to discuss stablecoin regulation, signaling a potential shift in policy. The session, attended by 60-70 participants including financial experts and policymakers, focused on risk assessment and strategic responses to global crypto trends.
Tech giants like JD.com are reportedly advocating for a yuan-backed stablecoin, reflecting growing institutional interest in blockchain-based financial infrastructure. Shanghai's financial regulator emphasized the need for deeper research into digital assets, positioning the city as a potential testing ground for future policy changes.
