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💥 Former Vice President of the Bank of China reveals shocking news: The real reason China stopped stablecoins! The US dollar has captured 99% of the market; where is the renminbi's way out? 💥
Former Vice President of the Bank of China and financial expert Wang Yongli recently publicly published an article analyzing the underlying logic behind China's resolute halt on stablecoins for the first time. The information is vast and worth savoring for everyone in the crypto circle! 🔥 Why did China adopt a 'one-size-fits-all' approach to stablecoins?
1. US dollar stablecoins have monopolized the market
Currently, US dollar stablecoins (such as USDT, USDC) account for over 99% globally, leaving almost no space for non-US dollar stablecoins. If China forcibly launches a renminbi stablecoin, it will only become a 'vassal' of the US dollar, weakening the sovereignty of the renminbi.
2. The digital renminbi is the ultimate trump card
1. US dollar stablecoins have monopolized the market
Currently, US dollar stablecoins (such as USDT, USDC) account for over 99% globally, leaving almost no space for non-US dollar stablecoins. If China forcibly launches a renminbi stablecoin, it will only become a 'vassal' of the US dollar, weakening the sovereignty of the renminbi.
2. The digital renminbi is the ultimate trump card
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