China Intensifies Its Fight Against Cryptocurrencies. Why Did the Country's Central Bank Label Stablecoins as a Risk?
According to representatives of the People's Bank of China, stablecoins pose a serious threat to the financial stability of the country. In this regard, the bank plans to update its measures aimed at combating cryptocurrency trading, which was officially banned in China back in 2021. This statement was the result of discussions with 12 other government agencies. In leadership circles, it is believed that speculation with cryptocurrencies among the population has once again intensified,