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Ant Group Denies Involvement in Rare Earth Stablecoin Project with PBoC
Ant Group Denies Involvement in Rare Earth Stablecoin Project with PBoC
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BTCCSquare news:
Ant Group has publicly refuted claims of collaborating with the People's Bank of China on a rare earth-backed stablecoin initiative. The fintech giant labeled such reports as "false" in a Weibo post, emphasizing it has "never had such plans with relevant institutions."
China's regulatory stance remains firmly opposed to cryptocurrency trading, with recent directives instructing brokerages to curb stablecoin research. Meanwhile, Ant Group plans to integrate Circle's USDC for overseas blockchain operations—pending compliance approvals—highlighting a strategic divergence between domestic restrictions and global ambitions.
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