Beijing is weighing a plan that could let yuan-backed stablecoins be used more widely outside China.

The move would be a clear shift from the 2021 crackdown on crypto trading and mining, and it would lay out targets, risk rules and which regulators must act.

The State Council is said to be set to review a roadmap later this month that maps those responsibilities and guardrails.

Yuan-Backed Stablecoins On Trial

According to a Reuters report , citing sources with knowledge of the matter, Beijing has disclosed that Hong Kong and Shanghai would be the first places to test any new rules.

Hong Kong’s stablecoin law came into force on August 1, and Shanghai is building an international operation center for the digital yuan.

Based on reports, senior leaders could hold a study session as

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