China is preparing to consider yuan-linked stablecoins as part of its efforts to expand the currency’s use worldwide, in what would represent a significant departure from its previous stance on digital assets.

What HappenedL The State Council, China’s cabinet, is expected to review a policy roadmap later this month that could authorize the issuance and use of yuan-backed stablecoins, Reuters reported on Wednesday.

The plan is likely to set targets for global yuan adoption and assign responsibilities to regulators such as the People’s Bank of China (PBOC), the report quoting sources said.

Senior leaders are also scheduled to meet before the end of August to discuss yuan internationalization…

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