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In Depth: Trump’s Stablecoin Embrace Ups Pressure on China to Join Race

By Liu Ran, Wang Xiaoqing and Qing Na
2025年07月11日 19:27
Stablecoins’ potential to transform the global payments system and maintain the dollar’s dominance could threaten China’s strategy to internationalize the e-CNY
As the U.S. embraces stablecoins, calls are growing for Beijing to drop its aversion to cryptocurrencies. Photo: AI generated

Calls are growing for China to join the global stablecoin race as the U.S. becomes the latest major economy to establish a regulatory framework for the digital asset that could further cement the dollar’s dominance and thwart Beijing’s efforts to boost the yuan’s international status.

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