Stablecoins Pose Monetary Challenge to China, Experts Warn

Chinese Academics Raise Concerns Over US Dollar Dominance Through Stablecoins

Leading economists in China are voicing concerns that the increasing popularity of stablecoins could undermine the nation’s monetary sovereignty. The core issue highlighted is the potential entrenchment of the US dollar’s global dominance, facilitated by the widespread adoption of these digital assets.

Implications for Sovereign Credit and Global Governance

A recent analysis published in the China Economic Times, a publication linked to a prominent policy research body advising the State Council, suggests that the growing influence of cryptocurrencies carries significant implications. These include:

• Challenges to existing sovereign credit systems
• Potential shifts in global governance models
• Fundamental changes to the future of money itself

The China Economic Times is known to be read by government officials, and its commentaries often serve as a platform for influencing or advising on crucial economic strategies within the country.

Thailand Tourism Hit by Crypto Scam Fallout

Thailand’s tourism sector is reportedly experiencing a significant downturn. Tourist arrivals from China have decreased by approximately 44%, largely attributed to the negative impact of recent cryptocurrency scams targeting Chinese nationals. This highlights the potential consequences of fraudulent activities on international relations and economic stability.

Japan to Urge G7 Nations to Tackle North Korean Crypto Hackers

Japan is planning to take a proactive stance on international cybersecurity threats. The nation intends to urge fellow G7 members to collaboratively address the activities of North Korean hacking groups, specifically focusing on those involved in cryptocurrency-related cybercrime. The Lazarus Group, a notorious North Korean hacking syndicate, is likely to be a primary focus of these discussions.