PBOC Report Highlights Crypto Oversight, Hong Kong Takes the Lead with Licensing Initiatives
The People’s Bank of China (PBOC) digital currency cryptocurrency regulation’s importance in its recently published 2024 Financial Stability Report.
This reiteration is particularly noteworthy given the contrasting approach of crypto between mainland China and Hong Kong. Notably, while mainland China maintains its strict ban on cryptocurrency trading and mining, Hong Kong continues to diverge by actively advancing its crypto licensing regime.
Highlighted Points From China 2024 Financial Stability Report
In the report, the PBOC emphasized the growing global focus on cryptocurrency regulation, noting that 51 jurisdictions worldwide have implemented either outright bans or significant restrictions on cryptocurrency-related…
