This marks the first time since China's 2021 crypto ban that a major Chinese regulatory body has openly discussed stablecoins, specifically exploring a yuan-based version. The involvement of Shanghai's financial regulators - rather than tech companies or banks - signals an unprecedented top-down approach to potentially reintegrating China into the global digital currency ecosystem.
Shanghai Regulators Plot Yuan-Based Stablecoin Amid $3.67T Crypto Surge
📰 What Happened
Shanghai's State-owned Assets Supervision Commission hosted 60-70 officials and experts on July 11, 2025, for an unprecedented meeting on stablecoins and digital currencies. The gathering, which included policy voices from Guotai Haitong Securities, occurred as crypto markets reached $3.67T with Bitcoin hitting $118,400. Regulator He Qing emphasized the need for 'greater sensitivity to emerging technologies,' marking a significant shift from China's 2021 crypto ban.
📖 Prophetic Significance
The convergence of China's $17 trillion economy with digital currency infrastructure creates unprecedented potential for global economic control. With Bitcoin at $118,400 and the crypto market at $3.67T, this regulatory shift could enable China to rapidly deploy a government-controlled digital yuan across its 1.4 billion population. This aligns with prophecies about centralized economic control, as a yuan stablecoin would combine the surveillance capabilities of digital currency with the world's largest consumer market - a combination impossible before current technology.