After launching CBDC, China can disable Tether

Experts believe that in the next year, when the Premier Bank of China PBoC will turn the digital yuan ahead of the Winter Olympic Games, Tether USDT may become a target.

The general director of the B2C2 Japan cryptocurrency liquidity provider Phillip Gillespie said that the Chinese authorities may try to ban a stablecoin pegged to the dollar. This will help them raise the percentage of users of the Central Bank Digital Currency (CBDC).

Other experts also agree that, after launching their own CBDCs, the central banks will start a battle with the cryptocurrency, and the biggest threats are bitcoin and stablecoins.

In September 2017, China banned the exchange of Yuan for crypto-assets, however, it started to bloom non-formal trade. It is believed that Chinese users switched to the Huobi off-board platform, for which they paid an additional 2%. Many traders on the motherboard have started using a stablecoin as a gateway for BTC trading.

Currently, the purchase of BTC with the use of USDT has become the most convenient trading channel for Chinese users of cryptocurrencies.

It is not excluded that the launch of the digital Yuan can also mean the end of the electronic payments of such giants as Alipay, managed by Ant Group, and WeChat from Tencent.

In any case, any introduced limits will be negatively affected at the state of the crypto market, since the liquidity on the trading platform will survive and can be almost guaranteed.

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