China’s Answer to the Digital Dollar: A New Push for a Yuan-Backed Stablecoin

To counter an incoming US dominance in the digital asset space, China’s tech giants JD.com and Ant Group, an affiliate of Alibaba, are now urging Beijing to authorize a yuan-based stablecoin, a countermove after the U.S. passed the GENIUS Act for clarity on dollar-linked cryptocurrencies. This proposal escalates the well-documented economic and trade battle between […] The post China’s Answer to the Digital Dollar: A New Push for a Yuan-Backed Stablecoin appeared first on Coin Edition.