Tether Ends Support for CNH₮ Stablecoin Amid Regulatory Pressure and Market Demand Shift

Tether has ended support for its Chinese yuan-pegged stablecoin CNH₮ (CNHT) due to limited market demand and regulatory pressures. New issuance has stopped, while existing holders can redeem their tokens for a year. The decision reflects a shift in the stablecoin industry towards a smaller number of widely used assets. Tether's move also highlights regulatory challenges faced by fiat-backed stablecoins, particularly those pegged to currencies with complex legal frameworks.