📝 PBoC op-ed argues for yuan-pegged crypto stablecoins
China should increase its research efforts on the topic of stablecoins and consider backing domestic institutions issuing yuan-pegged cryptocurrencies, a researcher from the People's Bank of China (PBoC) argued in an op-ed published by China Finance. Citing examples like Gemini Dollar and Paxos Standard, the argument for China was that stablecoins strengthen the influence of the backing fiat currency.
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