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US-China split on digital money deepens as stablecoin debate stalls Clarity Act (www.scmp.com)

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US crypto advocates have increasingly pointed to competition with China’s new interest-bearing e-CNY to demand legislative clarity on stablecoin yields, but China is charting a completely different course for the future of digital money, experts said. “The world’s two largest economies are not so much competing in digital assets as they are pursuing very different strategies,” said Andrew Fei, a partner at law firm King & Wood Mallesons in Hong Kong. Winston Ma, adjunct professor and executive...

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