China Is Moving on Chinese Stablecoin: Is Conflux Crypto Pump Evidence of Smart Money Accumulation?

China is Moving on Chinese Stablecoin: Is Conflux Crypto Pump Evidence of Smart Money Accumulation?

China is moving closer to exploring stablecoins, a change that could reshape global payments and help push the yuan onto the world stage. Reports say the State Council is reviewing a roadmap that would set targets for using a yuan-backed stablecoin, assign roles to domestic regulators, and lay out rules to manage risks. Senior leaders are expected to meet this month to discuss yuan internationalisation and stablecoin policy — a notable shift fro…

China Plans Yuan-Backed Stablecoin to Challenge Dollar Dominance

According to Reuters, Beijing is considering launching a yuan-backed stablecoin. The first review will happen by the end of this month and be led by the State Council. China has been very reluctant toward cryptocurrencies, but it seems to be changing its mind as a geopolitical and monetary tool. It's seeking to enter this market, which is dominated by the EURUSD pair. The stakes are clear — China's primary goal is to reduce the dominance of the …