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🚨 This is a bit misleading. @WatcherGuru
Crypto is still banned in mainland China.
This refers to Hong Kong, which operates separately and is cautiously exploring B2B stablecoin pilots — not open retail issuance.
Offshore RMB-backed stablecoins might happen, but China’s capital control priorities make that tradeoff quite unlikely.
FT article source:
7.8. klo 04.17
JUST IN: 🇨🇳 China to allow launch of its first crypto stablecoin, FT reports.
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