#区块链头条 Stablecoins will be the future of the crypto market!!!💥
China is considering allowing the use of RMB-backed stablecoins for the first time.
According to sources cited by Reuters, China is currently in a critical policy consideration phase, and for the first time, it will allow the inclusion of RMB-backed stablecoins on the agenda, with the core goal of further strengthening the internationalization process of the RMB.
Sources further pointed out that the State Council of China plans to review a roadmap aimed at promoting the global use of the RMB later this month, and does not rule out the possibility of approving this roadmap. The introduction of this roadmap aims to make the application of the RMB on the international stage more planned and driven, with one important consideration being to keep pace with the United States' advancements in the stablecoin field.
From the specific content of the plan, it is expected to include clear objectives for the use of the RMB in the global market, setting a clear direction and milestones for the internationalization of the RMB. At the same time, the roadmap will also detail the specific responsibilities of various domestic regulatory agencies in this process to ensure the orderly conduct of regulatory work and coordination among departments.
In addition, sources added that risk prevention guidelines are also an important component of this roadmap, aimed at identifying and preventing various risks that may arise during the internationalization process of the RMB, ensuring the stability of the financial market.
In the current global financial landscape, cryptocurrencies pegged to the US dollar are increasingly gaining influence in the international financial arena due to their characteristics. Against this backdrop, Beijing has conducted careful assessments and believes that financial innovation, especially stablecoins, has the potential to become an important tool for promoting the internationalization of the RMB, which has also become an important background factor for this policy consideration.
