According to a report by Reuters, the Chinese government is considering the first approval of a stablecoin pegged to the yuan as an important step in advancing the internationalization of the yuan. If this initiative is implemented, it will mark a significant policy reversal for China since it fully banned cryptocurrency trading and Mining in 2021, and could pose direct competition to the US dollar stablecoin in the fields of cross-border trade and international payments.

STEP-5.09%
IN3.09%
CROSS-1.54%
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