The idea of a yuan stablecoin keeps coming up… even with strict restrictions in place What stands out to me is the tension here on one side, china pushing hard on control via e-CNY. But on the other side, the reality that stablecoins are becoming the default rails for global payments. Meanwhile the data is clear: → USD stablecoins still dominate ~99.8% of the market → USDC alone reached ~$75B supply with strong growth → demand spikes during geopolitical stress A yuan stablecoin could expand global usage of RMB, but it would require loosening control over issuance and flow. That tradeoff looks difficult tbh. My view: the matter here is less about technology and more about policy flexibility. Can a tightly controlled system compete in a market that rewards openness and liquidity?