The State Council of China is considering the legalization of yuan-backed stablecoins by August 2025, marking a significant step forward for the country in the realm of digital currency.
Changes in China's Digital Currency Policy
The State Council of China may approve the issuance of yuan-backed stablecoins by August 2025. This comes after years of restrictions that followed the 2021 ban on cryptocurrencies. If these expectations come to fruition, it will represent a major shift in China’s digital currency policy.
Impact on International Settlements
The launch of yuan-backed stablecoins could expedite cross-border settlement trials, particularly in the context of the Shanghai Cooperation Organization summit happening in Tianjin on August 31. However, some analysts point to potential hurdles such as yuan convertibility and market access.
Surge of MAGACOIN FINANCE
Amidst the news of stablecoins, investors are significantly interested in MAGACOIN FINANCE, which has emerged as a leading presale project in the crypto industry. Analysts highlight that the project has already surpassed significant funding milestones and offers transparent zero-tax trading mechanics. Given the capped supply model and demand from major players, MAGACOIN FINANCE is attracting investor attention.
The likely acceptance of stablecoins in China underscores the rapid evolution of the global crypto market. With anticipation around yuan-backed stablecoins, investors may soon find new investment opportunities.
