China Tightens Crypto Ban Again: Is Speculation Resurfacing?
TLDR
- China’s central bank has reaffirmed its strict ban on cryptocurrency trading in response to renewed speculation.
- The People’s Bank of China has coordinated with 13 government agencies to combat illegal crypto activities.
- Stablecoins have been flagged by Chinese officials for their potential risks, including money laundering and fraud.
- Hong Kong-listed companies with exposure to crypto experienced sharp losses following China’s renewed crackdown.
- Despite a 2021 ban, China still holds a significant portion of Bitcoin’s global computing power.
China’s central bank has reaffirmed its stance on cryptocurrency trading, stressing the enforcement of its strict ban on digital currencies. The People’s Bank of China…
