China cautious move on crypto and stablecoins – signal or noise?
- China’s cabinet is considering a roadmap to boost a yuan-backed stablecoin, according to Reuters.
- The increasing appeal to enter the stablecoin market could boost the use of the Yuan and counter US Dollar dominance in the sector.
- China’s hot and cold attitude toward crypto has fueled speculation in previous cycles, driving tokens’ prices in the “made in China” crypto category higher.
China may be on the brink of warming up to cryptocurrency and stablecoins, Hong Kong has made more progress than the mainland. US President Donald Trump’s second son, Eric Trump, spoke at Bitcoin Asia, a Bitcoin conference held in Hong Kong.
The Trump administration’s embrace of cryptocurrency and stablecoins has cemented the United…
