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- Chinas Central Bank Flags Money Laundering and Fraud . . .
China's central bank has flagged stablecoins as a specific concern in its latest push against virtual currencies, warning that the tokens fail to meet requirements for customer identification and anti-money-laundering controls and risk being used for fraud, money laundering, and unauthorized cross-border fund transfers
- China’s central bank vows to stamp out ‘illegal activities . . .
Beijing has reaffirmed its tough stance on virtual currencies, warning of a resurgence in speculative trading and vowing to stamp out “illegal activities” involving stablecoins The People’s
- Chinas central bank vows crackdown on virtual currency . . .
China's central bank reaffirmed its tough stance on virtual currencies on Saturday, warning of a resurgence in speculation and vowing to crack down on illegal activities involving stablecoins
- China To Intensify Crackdown on Virtual Currencies, Including . . .
Virtual currencies are not legally recognized as fiat money in China and related activities are deemed illegal financial operations, officials said China's central bank expressed concerns over
- China Strengthens Crypto Ban as Officials Flag Stablecoin . . .
China's central bank reaffirms crypto ban and flags stablecoins as money laundering risks 13 agencies pledge enhanced enforcement and monitoring
- China Central Bank Reaffirms Ban on Stablecoins and Crypto . . .
The People’s Bank of China (PBOC) held a high-level meeting to reaffirm its ban on stablecoins and crypto as legal payment tools The PBOC stressed that virtual assets pose risks related to money laundering, fraud, and illegal capital flight out of the country
- PBoC Slams Stablecoins, Citing Risks and Illicit Use
Key Takeaways China’s central bank reaffirmed that all digital currencies, including stablecoins, are banned as legal tender to curb financial risks; Regulators warned stablecoins lack safeguards like user ID checks and AML controls, which makes them prone to illicit use and speculation; The PBoC vowed to enforce stricter measures against unlawful stablecoin activities to maintain financial
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