According to a Reuters report, China, which has traditionally held a restrictive attitude towards Crypto Assets, is considering a significant policy reversal that may allow for stablecoins supported by the Renminbi. This move aims to promote the global use of the Renminbi and could mark a shift from the ban on Crypto Assets trading and Mining imposed in 2021. Chinese authorities, particularly the State Council, are expected to review a roadmap to expand the international role of the Renminbi in August, including measures to address the U.S. stablecoin initiative and establish risk guidelines. A key use case may involve stablecoins facilitating cross-border trade and payments with other countries. This issue may be discussed at the upcoming Shanghai Cooperation Organization summit to be held in Tianjin. Hong Kong and Shanghai are prioritized as hubs for implementing this policy. This development indicates that China is taking a cautious yet strategically significant approach to integrate stablecoins into its financial ecosystem to strengthen the global influence of the Renminbi in competition with the U.S. #打榜优质内容#