🇨🇳 UPDATE: Chinese Official Urges RMB Stablecoin to Counter USD Dominance
Li Yang, Chair of China’s National Institution for Finance & Development, stated that stablecoins are amplifying the global influence of the US dollar.
He suggested issuing a Hong Kong-based RMB stablecoin as a strategic response to protect China’s monetary sovereignty.
💭 Could an RMB stablecoin reshape the global stablecoin landscape or challenge USD-backed dominance in crypto markets?
