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Cointelegraph by Christina Comben

China's yield-paying e‑CNY goes live Jan. 1, 2026, challenging the GENIUS Act ban

On Jan. 1, 2026, China permitted commercial banks to pay interest on e‑CNY wallet balances, aiming to integrate the CBDC into bank balance sheets. On Jan. 7, Coinbase CEO Brian Armstrong said the shift gives China an edge, colliding with the GENIUS Act’s July 2025 prohibition on stablecoin yields and raising competitiveness concerns for US dollar stablecoins.
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