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flag China explores stablecoins to enhance the yuan's global use amid U.S. regulatory moves.

flag China's central bank is exploring stablecoins to boost the yuan's global role, as the U.S. proposes a bill to regulate dollar-backed stablecoins. flag Despite growing interest, stablecoin adoption faces regulatory hurdles and skepticism about its ability to enhance the yuan's international usage, currently around 4%. flag Shanghai, China's financial hub, is reconsidering its stance and encouraging state-owned enterprises to explore stablecoins and digital assets, marking a significant shift from the previous ban on crypto activities.

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