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China is weighing the use of yuan-backed stablecoins for the first time, signaling a major shift in its approach to digital assets. Sources say the State Council may soon approve a roadmap to promote the yuan globally, set regulatory responsibilities, and provide guidelines for risk prevention, Reuters reported.

Senior Chinese leaders are expected to meet to discuss yuan internationalization and stablecoins, defining the boundaries of their use in business. The move would reverse China’s 2021 ban on cryptocurrency trading and mining and aims to strengthen the yuan’s role in global payments, where its share recently dropped to 2.88 percent, far behind the US dollar’s 47.19 percent.

Implementation is expected to be overseen by the People’s Bank of China, with details to be unveiled in the coming weeks, according to Reuters.

CVS Health which runs the largest US pharmacy benefit manager, will not add Gilead Sciences’ new HIV prevention drug, Yeztugo, to its commercial or ACA plans for now, citing clinical, financial, and regulatory reasons. The drug, a twice-yearly injection priced over $28,000 annually, is not yet included in current US HIV prevention recommendations, Reuters reported.

Advocates call the decision a missed opportunity in fighting the epidemic, which affects 1.3m Americans annually. Gilead remains in talks with insurers and expects broad coverage by mid-2026. Yeztugo has already been added to government programs and state Medicaid plans, and trials show it is nearly 100 percent  effective in preventing HIV.

A Texas federal judge has ruled that Elon Musk must face a lawsuit alleging he misled voters with a $1m-a-day giveaway linked to a petition supporting the US Constitution, Reuters reported.

The suit, filed by Arizona resident Jacqueline McAferty, claims Musk and his PAC, America PAC, encouraged voters in key states to provide personal information under the promise of winning the prize, though there was no real chance to receive it.

Musk argued the giveaway wasn’t an illegal lottery, noting winners were expected to become PAC spokespeople. The judge said statements suggesting money could be “won” made it reasonable for participants to believe they had a chance, and that the collected data had real value in battleground states.

According to Reuters, the lawsuit was filed on Election Day 2024, and Musk and America PAC have not commented.

The Israeli military has begun preliminary operations around Gaza City ahead of a planned ground offensive, with troops holding the outskirts of the city. Defence Minister Israel Katz approved the operation, and 60,000 reservists are being called up to support it, BBC reported.

IDF forces are targeting Hamas infrastructure while warning civilians to evacuate. Hamas accused Israel of obstructing ceasefire efforts, while mediators Qatar and Egypt have proposed a 60-day truce and partial hostage release, which Israel has rejected.

The International Committee of the Red Cross warned that further military action could worsen Gaza’s humanitarian crisis and endanger hostages. Since October 2023, over 62,000 Palestinians have been killed, according to BBC.