The Chinese government is gathering until the end of August to approve a plan providing for the use of secured by Yuan Steblcoin in the calculations, Reuters said with reference to its sources.

According to the interlocutors Reutersthe Cabinet of Ministers of the PRC wants to use stablecoins to popularize the national currency and expand its use around the world. Representatives of banks and authorities intend to meet and discuss what a policy should be in relation to stablecoins, as well as determine the boundaries of the use of stable digital coins, the news agency said.

Hong Kong and Shanghai will become the main centers, where the authorities we have weaned by Yuan, the authorities intend to introduce an accelerated pace. At the Shanghai Cooperation Organization summit (SCO), which should be held from August 31 to September 1 in the Tianjin, the Chinese authorities plan to discuss the use of stablecoins with guests from other countries for cross -border trade and payments.

Reuters sources believe that this is part of Beijing’s strategy to counteract the financial influence of the United States. Chinese exporters actively use stablecoins tied to the dollar, which reduces the use of the yuan in international payments.

Stebblecoins provided by Yuan can give China additional levers of influence in Asia, where Japan and South Korea also develop pilot projects of token fiat fiat, surveyed said Reuters Specialists.

Earlier, the General Director of Hashkey Group, Xiao Feng, who received the nickname “Father of the Chinese Blockchain”, told how the regulation of cryptocurrency in mainland China and Hong Kong could change.