Tether will cease the issuance and redemption of the offshore RMB stablecoin CNHT

Foresight News reported that Tether has announced it will cease issuing the offshore RMB stablecoin CNHT effective immediately, and will end support for CNHT redemptions one year after the announcement. Tether stated that consumer interest in this product is low, community demand for CNHT is limited, and its usage level is insufficient to support the operational standards required for all Tether products.