Search results for digital yuan
Crypto
Bitcoin and dollar in symbiosis; GENIUS Act framework should not be undermined
A claim has emerged that demand for the U.S. dollar rises as bitcoin and dollar-pegged stablecoins spread, forming a symbiotic relationship. Sam Lyman of the Bitcoin Policy Institute cited the dominance of the BTC/USD pair and the central role of Tether\'s USDT, backed by cash-like assets and short-term U.S. Treasuries. He compared the dynamic to the petrodollar era and urged U.S. lawmakers to keep developing the GENIUS regulatory framework without straying from core principles.
Crypto
China bans stablecoin and RWA issuance by foreign and domestic firms
China has imposed a blanket ban on issuing yuan-based stablecoins and real-world asset (RWA) tokens, Cointelegraph reported on Thursday. The report said the People’s Bank of China and seven regulators issued a joint statement prohibiting unapproved issuance of stablecoins and RWAs. The measure applies equally to foreign and domestic firms. The move comes as China promotes the digital yuan and follows a pause in related private-sector experiments in 2025.
Crypto
China-led CBDC project mBridge tops $55 billion in cross-border payments
Transaction volume on mBridge, a China-led cross-border digital currency platform, has grown to about $55 billion, Cointelegraph reported on Jan. 18. The multi-central bank digital currency platform has processed more than 4,000 cross-border transactions since its 2022 pilot stage, with the digital yuan making up 95 percent. China’s central bank data showed the e-CNY has handled over 3.4 billion transactions worth about 16.7 trillion yuan.