China airs 30-minute US crypto satire
CCTV, China’s state broadcasting mouthpiece, aired a half-hour special on cryptocurrencies and how the US is attempting to solidify dollar dominance with stablecoins.
The July 27 broadcast framed the new US stablecoin legislation GENIUS Act, as a geopolitical turning point. CCTV pinpointed that the new rules explicitly ban a Federal Reserve–issued central bank digital currency (CBCD) while allowing stablecoins to export US debt in digital form.
The broadcaster said stablecoins backed by US Treasury bonds represent the third phase of dollar hegemony after Bretton Woods gold and Middle Eastern oil. In this model, crypto users across the globe become indirect holders of US…
Aug 01 2025
