According to the source, the People's Bank of China has warned that global stablecoins may bring risks to the financial system and threaten monetary sovereignty, signaling continued policy caution toward privately issued digital currencies. Source: https://www.reuters.com/world/china/chinas-central-bank-says-global-stablecoins-may-bring-risks-financial-system-2021-07-08/ ; https://www.bis.org/publ/bisbull65.htm In Asia, Singapore’s MAS finalized a regulatory framework for single-currency stablecoins on Aug 15, 2023, and Circle Internet Singapore holds a Major Payment Institution license enabling regulated issuance and redemption—shaping compliant liquidity rails in the region. Source: https://www.mas.gov.sg/news/media-releases/2023/mas-announces-regulatory-framework-for-stablecoins ; https://www.circle.com/en/pressroom/circle-receives-major-payment-institution-license-in-singapore Hong Kong launched a stablecoin issuer sandbox on Mar 12, 2024 and is advancing legislation to regulate fiat-referenced stablecoin issuers; the SFC’s public register shows ongoing VATP applications and approvals including Hash Blockchain Limited (HashKey Exchange) and OSL Digital Securities, evidencing active offshore licensing. Source: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/03/20240312-4/ ; https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/12/20231227-3/ ; https://www.sfc.hk/en/Rules-and-standards/Virtual-asset-service-providers-and-trading-platforms/List-of-virtual-asset-trading-platforms For trading, stablecoins account for the majority of crypto transaction volumes, making these Singapore and Hong Kong policy tracks key catalysts for BTC and ETH liquidity, market depth, and basis during Asia hours. Source: https://www.bis.org/publ/bisbull65.htm ; https://kaiko.com/research

According to The Kobeissi Letter, China is considering allowing yuan-backed stablecoins for the first time, characterizing it as a major policy shift and providing no linked regulatory document or implementation timeline in the post (source: The Kobeissi Letter, Twitter, Aug 20, 2025, https://twitter.com/KobeissiLetter/status/1958135144717398512). Crypto-related activities in China have been progressively restricted since the 2013 Notice on Preventing Bitcoin Risks by the People’s Bank of China and other agencies, tightened by the 2017 Announcement on Preventing the Financing Risks of Token Issuance by seven regulators, and reinforced by the 2021 Notice on Further Preventing and Disposing of the Risk of Virtual Currency Trading Hype by the People’s Bank of China (sources: PBOC 2013 notice; joint regulators’ 2017 announcement; PBOC 2021 notice). The post does not specify scope, issuer permissions, convertibility, or compliance requirements, all of which are critical for trading and liquidity assessment, and remains unconfirmed by an official regulator at the time of the tweet (source: The Kobeissi Letter, Twitter, Aug 20, 2025, https://twitter.com/KobeissiLetter/status/1958135144717398512).

According to Forex Analyst @FXStreet, the GBP/CNY pair is showing signs of a potential breakout as it approaches key resistance levels. Traders should monitor the 9.00 psychological barrier, as a sustained move above this level could indicate further bullish momentum. Recent data from the People's Bank of China (PBoC) suggests stabilization efforts that may impact this currency pair's volatility. Additionally, the UK's latest economic indicators, including the CPI and GDP growth rates, are pivotal in assessing future movements. Analysts suggest keeping an eye on geopolitical factors and central bank policies that could further influence trading strategies.