Asia's weekly TOP10 crypto news (Mar 17 to Mar 23)
1. Scholar: China Needs to Promote the Construction of Stablecoins link The Deputy Director of the Institute of Finance at the Chinese Academy of Social Sciences and the Deputy Director of the National Institution for Finance and Development stated in an article published in the Learning Times, which is affiliated with the Party School of the Central Committee of the Communist Party of China, that Bitcoin is not a genuine currency in nature. Instead, it is a peculiarly styled financial asset, and this asset itself possesses investment value. In fact, it is stablecoins that are truly likely to exert a significant impact on the international financial system. Once the US dollar — backed stablecoins more closely link the international credit of the US dollar with the application scenarios in the virtual world, it is highly probable that they will greatly reinforce the hegemony of the US dollar. China needs to advance the construction of stablecoins and expand the utilization of digital to...