Chainalysis: China’s peer to peer stablecoin activity exploded 43-fold, showing resilience beneath tightened crypto rules
A Chainalysis report published October 5, 2026 finds a dramatic rise in peer to peer stablecoin transfers inside mainland China, as users shift to self custody and on chain rails despite strict domestic bans. The trend raises new enforcement and policy questions for Beijing and for international markets handling yuan-linked flows.