China quietly prepares yuan stablecoins as 99% of supply minted in dollars

China is evaluating yuan-backed stablecoins for the first time, with the State Council set to review a roadmap on currency internationalization and stablecoin usage later this month, per Reuters. The plan would assign regulatory responsibilities, outline risk controls, and task the People’s Bank of China with implementation, and pilot activity is expected in Hong Kong The post China quietly prepares yuan stablecoins as 99% of supply minted in dollars appeared first on CryptoSlate.