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- 🚀 Gate $PUMP Futures Trading Challenge is Now Live!
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China Explores Yuan-Backed Stablecoins to Advance Currency Internationalization
Gate News bot message, Reuters reports that China is exploring the possibility of permitting yuan-backed stablecoins for the first time, according to sources familiar with the matter. This initiative aligns with the country's ongoing currency internationalization strategy. This marks China's first step into officially sanctioned stablecoin territory, despite its previous strict stance on cryptocurrencies.