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China (PBOC) reaffirms crypto ban, accelerates digital yuan rollout
China’s central bank has doubled down on its ban against cryptocurrency trading while accelerating the rollout of its state-backed digital currency. Info via Caixin report. Speaking at the Financial Street Forum in Beijing, People’s Bank of China (PBOC) Governor Pan Gongsheng said existing restrictions on virtual currency activity remain firmly in place and will continue to be enforced in coordination with other authorities. He also warned that offshore stablecoins pose potential systemic risks, citing global regulatory concerns over compliance, money laundering, and consumer protection. Pan noted that ... (full story)
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