Close Menu
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Categories
  • Altcoins (1,366)
  • Analysis (1,553)
  • Bitcoin (2,136)
  • Blockchain (1,249)
  • DeFi (1,469)
  • Ethereum (1,470)
  • Event (56)
  • Exclusive Deep Dive (1)
  • Landscape Ads (2)
  • Market (1,512)
  • Press Releases (1)
  • Reddit (788)
  • Regulation (1,412)
  • Security (2,027)
  • Thought Leadership (2)
  • Videos (41)
Hand picked
  • BCH becomes vertical – The lens of $ 1,500 has buzzing merchants
  • Companies continue to create Bitcoin vouchers: this is why
  • While XRP expects on regulators and GCV debate pi, web3 AI rushes with 7.8 million dollars collected and 1,747% space to run
  • The Altcoin season has just flashed a golden cross in the middle of the recovery of the cryptography market – TradingView News
  • Plan of $ 100 million in cardano to meet the challenges of DEFI and Stablecoin
We are social
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Facebook X (Twitter) Instagram
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Events
Altcoin ObserverAltcoin Observer
Home»Altcoins»Former Executive of the Bank of China: Rise of Stablecoin poses a political challenge for China
Altcoins

Former Executive of the Bank of China: Rise of Stablecoin poses a political challenge for China

June 4, 2025No Comments4 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
1f1ed 1f1f0.png
Share
Facebook Twitter LinkedIn Pinterest Email


The main dishes to remember:

  • Wang Yongli urges the accelerated development of the E-CNY and suggests launching a stablecoin in Yuan Offshore in Hong Kong.
  • Regulatory developments in the United States and Hong Kong are considered to strengthen the influence of the US dollar in digital payments.
  • Its proposal includes the integration of digital identity systems into digital currency to improve competitiveness.

The growing ladder of stable -coated stables in US dollars has a strategic challenge for the Chinese monetary system, according to a blog article published by economist Wang Yongli on June 3.

Wang, a former MP for China, warned that the uncontrolled expansion of the risks of stablescoins USD undergoing China’s efforts to promote the renminbi in world payments.

The growth of the USD Stablecoin exerts pressure on the E-CNY strategy

Wang highlighted the rapid growth of digital token at point like the USDT and the USDC, which treated more than 27 billions of dollars in colonies last year and now represent more than 99% of the Fiat stable market.

He argued that these developments, as well as the newly passed regulatory executives in the United States and Hong Kong, indicate a change in global finance that the Chinese continent must respond with urgency.

“If the digital yuan cannot equal or exceed the advantages of the efficiency and costs of the stablescoins USD, the internationalization of the renminbi will be confronted with serious obstacles,” Wang wrote.

He called for an accelerated deployment of the E-CNY beyond national detail tests, suggesting that China plans to launch a stablecoin in Yuan Offshore in Hong Kong. This decision, he said, could serve as a transitional model to support digital payments based on CNY on the world markets.

Wang has also warned that the global regulatory adoption of stablecoins, in particular those linked to the US dollar, effectively strengthens American monetary domination.

Multi-CBDC networks considered as a potential strategic point of sale

With the Hong Kong dollar itself set for the greenback, he noted that the new regulatory regime of the city further strengthens the dollar regulation networks across Asia.

🇭🇰 Hong Kong approved a new law allowing a stable license on the back of Fiat, creating a regulatory path for issuers under monetary authority.#hk #Hong Kong #Stablecoinhttps://t.co/l71qbpmgtz

– cryptonews.com (@cryptonews) May 21, 2025

While current policies in continental China restrict cryptographic trading and the use of private tokens, Wang has declared that selective engagement, in particular in business applications and payment infrastructure, may be necessary to maintain relevance in the evolving digital financing environment.

“Stablecoins have become an arena with high issues for geopolitical and economic influence,” he wrote, adding that the integration of digital identity infrastructure with digital money could give China a long-term advantage if it was effectively implemented.

Wang previously held Board of Directors in Swift China and held management positions in several financial and technological companies. His comments reflect a growing concern among Chinese financial experts concerning the rhythm and the world development management of digital assets.

Wang’s comments raise the question of whether E-CNY could possibly participate in multi-CBDC platforms which support direct regulations through borders. Such integration, if it was prosecuted not only to counterbalance the stubborn stubborn in dollars, but would also offer China an alternative route to set up transactions based on the Yuan.

Frequently asked questions (FAQ)

Could the stablescoins of the USD have an impact on global coordination of monetary policy?

The widespread use of USD stable stables can reduce the effectiveness of local monetary policies, in particular on emerging markets, by increasing dependence on the liquidity of the dollar outside of traditional banking systems.

How could stablecoin in digital yuan affect the use of RMB offshore?

A Stablecoin of Yuan Digital could improve the liquidity of the RMB on the international markets where the direct use of E-CNY is limited, in particular in trade, the sending of funds or the protocols DEFI which require native assets of the blockchain.

What challenges, would China be confronted with the publication of a stablecoin in yuan of Hong Kong?

Regulatory clarity, reserves custody, exchange controls and cross -border compliance executives should all be treated to align the continent’s monetary policy while serving the global markets.

The former former executive of the Bank of China: Rise of Stablecoin poses the political challenge for China appeared first on Cryptonews.





Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleDow wins 214 points, the markets end more than high labor data facilitates pricing concerns
Next Article Russia intensifies the desire to replace the US dollar in world trade

Related Posts

Altcoins

BCH becomes vertical – The lens of $ 1,500 has buzzing merchants

June 15, 2025
Altcoins

BNB defends $ 640 – with active users in an ATH, is $ 674 in sight?

June 15, 2025
Altcoins

Trader predicts the SUPBOLIC RALLY to new heights, said that the recent Dex Hack $ 223,000,000 has given “ incredible opportunities’ ”

June 15, 2025
Add A Comment
Leave A Reply Cancel Reply

Single Page Post
Share
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Featured Content
Event

Philippine Blockchain Week 2025 Welcomes Global Web3 Trailblazers to Manila

June 9, 2025

Manila, Philippines – June 9, 2025 — As Philippine Blockchain Week (PBW) 2025 returns for…

Event

ETHMilan 2025 Returns With a Stellar Line-Up at One of Milan’s Most Iconic Venues

June 5, 2025

Milan, Italy – Mark your calendars! ETHMilan, Italy’s largest international Ethereum and Web3 conference, is…

1 2 3 … 49 Next
  • Facebook
  • Twitter
  • Instagram
  • YouTube

BCH becomes vertical – The lens of $ 1,500 has buzzing merchants

June 15, 2025

BNB defends $ 640 – with active users in an ATH, is $ 674 in sight?

June 15, 2025

Trader predicts the SUPBOLIC RALLY to new heights, said that the recent Dex Hack $ 223,000,000 has given “ incredible opportunities’ ”

June 15, 2025
Facebook X (Twitter) Instagram LinkedIn
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
© 2025 Altcoin Observer. all rights reserved by Tech Team.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 105,561.28
ethereum
Ethereum (ETH) $ 2,545.13
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.16
bnb
BNB (BNB) $ 648.15
solana
Solana (SOL) $ 152.61
usd-coin
USDC (USDC) $ 0.999968
dogecoin
Dogecoin (DOGE) $ 0.175479
tron
TRON (TRX) $ 0.274103
staked-ether
Lido Staked Ether (STETH) $ 2,543.08