Core Viewpoint - Tether has announced the cessation of support for its offshore Chinese yuan stablecoin CNH₮, citing changes in market conditions, low product demand, and insufficient community usage as the primary reasons for this decision [1] Group 1 - Tether will stop the issuance of new CNH₮ tokens effective immediately [1] - The company plans to terminate redemption support for CNH₮ one year after the announcement, with a reminder to be issued before the redemption deadline [1] - The usage scale of CNH₮ has been deemed inadequate to sustain ongoing operational costs [1] Group 2 - Tether will continue to process redemptions normally until the redemption deadline [1] - Users holding CNH₮ are advised to complete their redemptions as soon as possible [1]