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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
- China To Intensify Crackdown on Virtual Currencies, Including . . .
During the meeting, the People's Bank of China warned that stablecoins—tokens pegged to fiat currencies—lack proper customer identification and anti-money laundering protections, enabling
- Chinas central bank vows crackdown on virtual currency . . .
The central bank specifically highlighted concerns about stablecoins, saying they fail to meet requirements for customer identification and anti-money-laundering controls
- China maintains crackdown on illegal virtual currency-related . . .
BEIJING, Nov 29 (Xinhua) -- The People's Bank of China, China's central bank, stated that the country will maintain prohibitive policies regarding virtual currency trading and will continue to crack down on related illegal financial activities in an effort to safeguard the security of people's property The bank sent this message at a recent meeting on virtual currency speculation crackdown
- China’s Central Bank Reasserts Crypto Ban, Warns Stablecoins . . .
High-Risk Stablecoin Activity Stablecoins, in particular, were singled out for failing to meet customer verification and anti-money-laundering standards The PBoC stated that these deficiencies make them susceptible to exploitation through money laundering, fraudulent fundraising, illegal cross-border flows, and underground payments
- China steps up crackdown on illegal virtual currency activities
On stablecoins, the central bank said they do not meet requirements for customer identification or anti-money laundering controls
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