
With major economies gearing up for the rising ubiquity of stablecoins and their impact on the global economy, former Chinese central bank chief Zhou Xiaochuan has warned that US dollar-backed stablecoins could accelerate the “dollarisation” of the international monetary system.Amid the explosive growth of cryptocurrency in the past few years, continued focus from high-level figures reflects the Chinese government’s interest in underlying technologies and their potential role in cross-border...