China Vows To Intensify Crackdown On Crypto, Including Stablecoins, Amid Resurfacing Speculation ⋆ ZyCrypto
Advertisement
 
 
China intends to keep a tight grip on cryptocurrencies and stablecoins, reaffirming its stance that digital assets have no legal status in the country.
The People’s Bank of China (PBoC), the country’s central bank, said that “virtual currency speculation has resurfaced” due to multiple factors, posing new financial risks and challenges.
“Virtual currencies do not have the same legal status as fiat currencies, lack legal tender status, and should not and cannot be used as currency in the market,” the PBoC reportedly stated in a translated statement.
The PBoC also said it would “severely” clamp down on all domestic virtual currency-related business…
