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#ContentStar# China's regulator holds a meeting on stablecoins and cryptocurrencies amid the Bitcoin rally.
A key Chinese regulatory body held a strategic meeting this week to guide local government officials on stablecoin and digital currency policy. Reports and social media posts released Friday indicated a shift in China's stance amid Bitcoin's record rally.
The session, held on Thursday by the Shanghai State Assets Supervision and Administration Commission, was attended by 60-70 officials to discuss responses to stablecoins and broader digital asset trends.
The report noted that the regulator emphasized the need for greater sensitivity to new technologies and enhanced research on digital currencies. This signals openness to adapting regulations.
This move coincides with Bitcoin's record run. Bitcoin surpassed its recent milestone of over $118,000 on Friday, fueled by strong institutional demand and favorable US regulatory policies.
While cryptocurrency trading is banned in China, domestic players like JD and Ant Group are promoting yuan-based stablecoins and plan to seek licenses under Hong Kong's upcoming regulatory framework.
#Crypto Market Rebound# #BTC# #CHZ#