In today's world, where major global economies are viewing stablecoins as a new strategic battleground, a silent competition surrounding Digital Money has already begun. As the US, EU, and other regions rush to introduce regulatory frameworks in an attempt to seize the initiative, China's movements appear particularly noteworthy and complex. According to reports from several foreign media outlets, Chinese authorities have quietly convened experts in the field over the past few months to engage in in-depth discussions regarding the issuance of a stablecoin pegged to the Renminbi.
This move creates a seemingly contradictory tension with the strict regulatory policies on virtual asset trading within the country. However, behind this lies a well-thought-out national strategy: to prevent the potential risks that uncontrolled digital assets pose to the financial system, while also eager to seize the historical opportunity of blockchain technology, creating a brand new "digital ark" for the internationalization of the Renminbi.
So, why is China testing stablecoins at this time? Who will be the final technical foundation?