China plans stablecoin debut to rival dollar, faces slowdown over capital flight risks

China wants to roll out its first stablecoins to push the renminbi into more global markets and challenge the dominance of the US dollar. But behind the scenes, officials are worried that this very move could backfire by triggering capital flight. The country’s financial system isn’t built to handle rapid money movement, especially not through […] source: https://www.cryptopolitan.com/china-stablecoin-debut-capital-flight-risks/