The race for full dominance: Will the US lose its leadership in digital assets?

The global race for digital asset control intensifies as China advances relentlessly in its digital currency strategy. While U.S. lawmakers debate whether to impose restrictive regulations on stablecoins, the digital yuan has already accumulated 3.48 billion transactions since its launch through November 2025, and is poised to offer yields starting in 2026.

The numbers speak clearly

The most significant aspect is not just the adoption of the digital yuan, but how China’s digital payment ecosystem is transforming international trade. The mBridge project, a joint initiative of central banks for cross-border payments, moved $55.34 billion in its most recent operation, notably with 95.3% of these transactions executed directly in digital currencies.

To put it into perspective: almost all transactions were settled without the need for traditional intermediaries. This is no small detail. It represents a redistribution of power within the global financial infrastructure.

The regulatory crossroads

Industry executives, such as Faryar Shirzad from Coinbase, have warned lawmakers that each restrictive decision on stablecoins within the United States risks accelerating the adoption of digital alternatives controlled by other geopolitical actors.

The premise is simple: if the market lacks reliable and regulated local options, capital and trade flows will seek other routes. And those routes are already being paved by the digital yuan and its international allies.

What’s at stake?

Complete dominance in digital assets is not only defined by transaction volume but also by who controls the infrastructure that facilitates them. China is building that infrastructure now, while in the U.S., the discussion still revolves around how to regulate it without falling behind.

The window of opportunity does not remain open indefinitely. The decisions made in the coming months regarding stablecoin regulation will determine whether the United States maintains influence in this new digital financial order or simply observes from the periphery.