$CFX China's overall strategy for blockchain tokens and stablecoins can be summarized as "breaking and establishing simultaneously":

· Break: Through stringent regulation, eliminate the domestic survival soil for dollar-based private cryptocurrencies and stablecoins, safeguarding financial sovereignty and stability.
· Position: Led by the government, fully building and promoting the official legal digital currency - Digital Renminbi, aimed at creating a future digital currency infrastructure independent of the existing dollar-dominated system.

This strategy is not only applicable domestically; one of its ultimate goals is to break the dollar's hegemony in the field of cross-border payments and international trade. The cross-border settlement network of the digital yuan (such as the mBridge project) was born for this purpose. China aims to establish a "exchange" for trading cryptocurrencies using the digital yuan, and to create a new international trade and financial settlement system centered around the digital yuan that bypasses the dollar and SWIFT. This is a long-term and grand strategic layout. #pi #pijs #eth #btc