Shanghai and Wuxi are exploring stablecoins to help foreign trade. Related concept stocks continue to strengthen, but risks cannot be ignored.

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The Party Committee of Shanghai State-owned Assets Supervision and Administration Commission held a central group study meeting on July 10 to study the development trends and response strategies of cryptocurrencies and stablecoins. Subsequently, A-share digital currency and blockchain concept stocks continued to rise in the afternoon of July 11.

Author: Weilin, PANews

On July 11, the Party Committee of Shanghai State-owned Assets Supervision and Administration Commission held a central group study meeting on July 10 to study the development trends and response strategies of cryptocurrencies and stablecoins. Subsequently, A-share digital currencies and blockchain concept stocks continued to rise in the afternoon of July 11. Previously, Wuxi also held a special promotion meeting, mentioning “exploring the practical path of stablecoins to empower foreign trade development.” This may be a response to the speech of Pan Gongsheng,…

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