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Shanghai’s state asset regulator recently held a closed-door meeting to study stablecoins and blockchain infrastructure, signaling potential pilots in city-run enterprises despite China’s nationwide crypto ban. The session highlights China’s cautious yet strategic approach to digital finance, separating speculative crypto assets from state-sanctioned monetary tools.
- Shanghai's state asset regulator discussed stablecoin and blockchain pilots for state-owned enterprises, despite China's crypto ban.
- China's strategy focuses on 'tiered experimentation,' treating stablecoins as financial tools rather than investment assets.
- People's Bank of China governor Pan Gongsheng recently acknowledged stablecoins' potential but highlighted regulatory risks.
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