According to a Reuters report, China, which has traditionally held a restrictive attitude towards Crypto Assets, is considering a significant policy reversal that may allow for stablecoins supported by the Renminbi. This move aims to promote the global use of the Renminbi and could mark a shift from the ban on Crypto Assets trading and Mining imposed in 2021. Chinese authorities, particularly the State Council, are expected to review a roadmap to expand the international role of the Renminbi in August, including measures to address the U.S. stablecoin initiative and establish risk guidelines.
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