Name: From Bitcoin Ban to RMB Stablecoin: China's Race for Global Currency Power || Digging into China | Videos | Gan Jing World - Technology for Humanity | Video & Movie Streaming
Uploaded: 2025-09-06T00:09:30.364Z
Duration: 13 min 35 s
Description: China’s potential launch of an RMB-backed stablecoin aims to boost the yuan’s global reach, counteri... | Videos | Gan Jing World - Technology for Humanity | Video & Movie Streaming

Digging into China

https://video1-us-east.cloudokyo.cloud/video/v13/d4/b3/1a/d4b31a61-76ee-4e95-8ec0-13f1a97197a2/master.m3u8

China’s potential launch of an RMB-backed stablecoin aims to boost the yuan’s global reach, countering the U.S.’s USD stablecoin advancements post-GENIUS Act. Once a Bitcoin powerhouse, China banned crypto in 2017, citing financial instability, causing its global computing power share to plummet from 75% to zero. The digital RMB, launched in 2020, faltered against mobile payment giants like WeChat Pay due to restrictive design and centralized control. An RMB stablecoin faces similar hurdles: decentralization conflicts with authoritarian governance, and foreign exchange controls limit its appeal. Unlike USD stablecoins, which offer efficient global trade solutions, a centralized RMB stablecoin may struggle to compete. China’s authoritarian system inherently clashes with the freedom-driven ethos of digital currencies, risking another failed venture unless the yuan is liberalized. This video explores whether China can overcome these challenges or face further marginalization in the digital currency race.

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00:00:00 Intro
00:44:04 China's Crypto Ambitions Reborn
01:42:11 The Fall of a Crypto Giant
02:58:11 A Missed Opportunity
04:02:11 The Crackdown Begins
04:59:00 The Clash of Ideals
06:11:19 The Digital RMB’s False Start
07:08:17 Why the Digital RMB Failed
08:02:01 The Centralization Trap
09:00:23 A Flawed Stablecoin Vision
10:00:07 Limited Market Potential
10:53:15 The USD Stablecoin Advantage
11:41:20 A Race Against Freedom