China bans private yuan stablecoins while boosting state digital currency

China’s central bank closed the door on privately issued digital tokens tied to the yuan on Friday, marking the country’s firmest stance yet against cryptocurrencies that mimic its national currency. The People’s Bank of China teamed up with seven government agencies to announce the prohibition, which blocks anyone from creating stablecoins linked to China’s currency […] source: https://www.cryptopolitan.com/china-bans-private-yuan-stablecoins/