$CFX a Conflux Network has authorization to operate as the only approved public blockchain for use in mainland China. Developed by researchers from Tsinghua University and the University of Toronto, Conflux operates in compliance with Chinese regulations, which is a significant differentiator in a country with strict policies on cryptocurrencies.

In the case of the recently announced stablecoin AxCNH, it was preliminarily approved by the Astana Financial Services Authority (AFSA) in Kazakhstan to facilitate cross-border payments, particularly within the scope of the Belt and Road Initiative (BRI). This indicates that the project has regulatory backing both in China and in relevant international jurisdictions for its operation.