Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, China’s cabinet will reportedly review a roadmap that includes yuan-pegged stablecoins to bolster yuan internationalization, Santiment says Bitcoin’s dip below $113,000 saw retail traders flip “ultra bearish,” and Senator Tim Scott expects Democrats to back Republicans on the CLARITY Act.
China, one of the most restrictive global jurisdictions for cryptocurrencies, is reportedly considering allowing Chinese yuan-backed stablecoins in what would be a major policy reversal.
Chinese authorities may authorize yuan-backed stablecoins for the first time to promote global use of its currency, Reuters reported on Wednesday, citing sources familiar with the matter.
