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According to Deep Tide TechFlow news, on June 21, Li Yang, a member of the Chinese Academy of Social Sciences and chairman of the National Financial and Development Laboratory, stated that the United States is promoting stablecoin legislation to strengthen the position of the US dollar, modernize payments, and create new demand for US Treasuries. Stablecoins are essentially an extension of the US dollar on-chain. In the face of this trend, China should firmly promote the internationalization of the renminbi and adapt to the integration trend of stablecoins and TradFi, promoting the complementary development of renminbi stablecoins and Central Bank Digital Currency. Li Yang suggested making full use of Hong Kong's advantages to develop offshore renminbi stablecoins and build controllable international payment channels.