China threatened by US stablecoins, G7 urged to tackle Lazarus Group: Asia Express

Stablecoins Threaten China’s Monetary Sovereignty, Warns Think Tank

Leading Chinese academics are raising concerns about the increasing popularity of stablecoins and their potential impact on China’s monetary sovereignty. The core argument revolves around the idea that the widespread adoption of stablecoins could further entrench the dominance of the US dollar in the global financial system.

The Rise of Crypto and its Geopolitical Implications

A commentary published in the influential China Economic Times, a newspaper backed by the Development Research Center of the State Council, highlights that the growing use of cryptocurrencies has significant implications for sovereign credit systems, global governance models, and the future of money itself.

The Development Research Center of the State Council is a top-tier policy research body in China. The newspaper’s primary readership includes government officials, making its commentaries influential in shaping economic strategy.

G7 Urged to Address North Korean Crypto Hacking Activities

Japan is reportedly pushing for the G7 nations to take stronger action against North Korean hacking groups, particularly the Lazarus Group, which is allegedly involved in illicit cryptocurrency activities to fund the country’s weapons programs. The issue of cyber security and regulation of digital assets is becoming a priority for international collaboration.

Thai Tourism Suffers from Crypto Scam Backlash

Thailand’s tourism sector has experienced a downturn, with a reported 44% decrease in Chinese tourists. This decline is partially attributed to negative publicity surrounding cryptocurrency scams targeting tourists. The Thai government is working to restore confidence and ensure the safety of visitors.