PBOC Launches e-CNY Settlement Network as China Bans Private Stablecoins — DeFi

PBOC Launches e-CNY Settlement Network as China Bans Private Stablecoins

China’s central bank is systematically eliminating private stablecoins domestically while simultaneously launching CBETS, a blockchain settlement platform that ties 26 global financial institutions directly to the digital yuan. The strategy neutralizes stablecoins’ competitive advantages through regulatory bans and interest-bearing e-CNY wallets, positioning Beijing’s digital currency as the preferred cross-border payment rail.

ASIC Wins High Court Ruling That Crypto Yield Products Need Financial Licenses — DeFi

ASIC Wins High Court Ruling That Crypto Yield Products Need Financial Licenses

Australia’s High Court unanimously ruled that Block Earner’s fixed-yield crypto product required a financial services licence it never held, overturning a lower court decision and ending a four-year enforcement battle. The landmark 7-0 decision establishes that existing Australian law already covers yield-bearing crypto products, potentially reshaping how digital asset offerings are regulated nationwide.