The Chinese authorities are considering the legalization of stablecoins based on the yuan as early as the end of August 2025. This move is expected to be part of efforts to expand the use of the national currency in global financial markets.
This is reported by Finway
China’s Plans for the International Role of the Yuan
According to sources, the State Council of the People’s Republic of China plans to review a new roadmap that includes measures to promote the wider use of the yuan globally. The roadmap also includes support for stablecoins, which will help attract new users and enhance the competitiveness of the Chinese currency. The document also contains specific targets for the global adoption of the yuan, responsibilities for financial regulators, and recommendations for minimizing risks.
An introductory session on the implementation of stablecoins is expected to take place at the end of August. During this session, senior officials will discuss the limits of using digital assets, define policies for their regulation, and provide strategic guidelines for this sector.
Stablecoins as a Tool for the Globalization of the Yuan
In official Beijing, stablecoins are seen as an effective mechanism for the internationalization of the yuan, especially in light of the active support for digital currencies in the United States.
“Official Beijing views them as a tool for the internationalization of the yuan, particularly against the backdrop of support in the U.S., one source stated.”
It is worth noting that U.S. President Donald Trump approved legislation regulating stablecoins (GENIUS), and Treasury Secretary Scott Bessent is convinced that such assets can help address the issue of U.S. national debt.
It should be noted that the Chinese authorities’ interest in stablecoins is not a new phenomenon. Earlier reports indicated testing of such assets in Hong Kong, aimed at reducing the influence of the U.S. dollar. Meanwhile, there was subsequent information about a demand from Chinese regulators for brokers to halt the promotion of stablecoins in the media space.
In July 2025, major Chinese companies JD.com and Ant Group applied for official licenses to issue yuan-linked stablecoins. They believe this will allow the yuan to become a serious competitor to the U.S. dollar on the global stage.