China Maintains Scrutiny of Crypto While Asia Embraces Stablecoins
China will keep a tight grip on crypto and stablecoins while maintaining scrutiny of overseas digital asset developments, as Asian neighbors launch regulated stablecoins, a representative from the People’s Bank of China said Monday.
PBC Governor Pan Gongsheng said during a conference in Beijing that the central bank will continue clamping down on domestic crypto operations and speculation, saying “the policies and measures rolled out by PBOC to combat cryptocurrency-related risks are still effective.”
The central bank will work with law enforcement to “crack down on relevant activities within mainland China to safeguard economic and financial order,” Pan said, as cited in a report from The Standard (HK).
The governor…
