Agricultural Bank of China: No plans to develop stablecoins

PANews reported on July 3rd that according to Jinshi, the Agricultural Bank of China responded to investors' questions about capital injection, stock repurchase and stablecoin development on the interactive platform. In response to the market's concern about the development of stablecoins and cryptocurrencies, the Agricultural Bank of China clearly stated that the regulatory authorities will implement this round of capital injection by state-owned banks in an orderly manner in accordance with the idea of "comprehensive promotion, phased and batched, and one policy for each bank". Our bank will promote related work in accordance with unified arrangements. For the latest development trends of global stablecoins and cryptocurrencies, our bank will follow up and study them, and there is currently no plan to develop stablecoins.