Cathy姐玩链游
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Reuters reported this morning: China may approve a renminbi-denominated stablecoin later this month.
Sources say the plan is expected to include goals for the use of the renminbi in global markets and to clarify the responsibilities of domestic regulatory agencies. Additionally, the roadmap will incorporate guidelines for risk prevention.
One source indicated that high-level Chinese leaders are also expected to hold a special study meeting as early as the end of this month, focusing on the internationalization of the renminbi and the rapidly developing stablecoins globally.
The open economy of the United States is already leading in the cryptocurrency race.
For countries with foreign exchange controls, allowing individual users to use stablecoins in a "decentralized" manner is a challenging goal. It is likely that, similar to Hong Kong, anyone holding and trading stablecoins must first undergo identity verification, and only after verifying their identity will they be granted a whitelist for personal on-chain wallet addresses. This chain cannot be overseas public chains like Ethereum or Solana.
Otherwise, anyone could exchange renminbi online or offline without identity verification, and then hold renminbi stablecoins on-chain. These renminbi stablecoins could then be freely exchanged for USDT/USDC and other dollar stablecoins on-chain, which could then be spent abroad or redeemed for dollars, effectively nullifying the wall of foreign exchange control.
#人民币稳定币
#stablecoin
Sources say the plan is expected to include goals for the use of the renminbi in global markets and to clarify the responsibilities of domestic regulatory agencies. Additionally, the roadmap will incorporate guidelines for risk prevention.
One source indicated that high-level Chinese leaders are also expected to hold a special study meeting as early as the end of this month, focusing on the internationalization of the renminbi and the rapidly developing stablecoins globally.
The open economy of the United States is already leading in the cryptocurrency race.
For countries with foreign exchange controls, allowing individual users to use stablecoins in a "decentralized" manner is a challenging goal. It is likely that, similar to Hong Kong, anyone holding and trading stablecoins must first undergo identity verification, and only after verifying their identity will they be granted a whitelist for personal on-chain wallet addresses. This chain cannot be overseas public chains like Ethereum or Solana.
Otherwise, anyone could exchange renminbi online or offline without identity verification, and then hold renminbi stablecoins on-chain. These renminbi stablecoins could then be freely exchanged for USDT/USDC and other dollar stablecoins on-chain, which could then be spent abroad or redeemed for dollars, effectively nullifying the wall of foreign exchange control.
#人民币稳定币
#stablecoin
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