MACRO UPDATE: Beijing Tightens Digital Currency Grip

China’s PBOC has moved to eliminate private competition for the Digital Yuan (e-CNY).

New regulations explicitly ban unapproved RMB-pegged stablecoins and Real World Asset (RWA) issuance. By covering both onshore and offshore markets, Beijing is signaling a zero-tolerance policy for decentralized Yuan liquidity.

The era of the "Private Digital Yuan" is over before it began.
#macroeconomic
#China #Stablecoins #CryptoRegulation #AlphaSign $XRP $SOL