As per PANews, on December 1, Zhongke Lian'an analyzed that the People's Bank of China, together with 12 other departments including the Ministry of Public Security and the Cyberspace Administration of China, held a coordination meeting on combating virtual currency trading and speculation. Compared to the 2021 '924 Notice' involving 10 ministries, the meeting added the Central Financial Office, the National Financial Supervision Administration, and the Ministry of Justice, signaling a shift from sectoral coordination to systematic governance. The analysis noted that this change will reshape the regulatory landscape in three aspects: enhanced cross-departmental coordination, deeper financial regulation, and stronger legal enforcement. The meeting also identified stablecoins as a key target and emphasized the construction of a technology-driven monitoring system for information and fund flows.
China Adds Three New Agencies to Virtual Currency Regulatory Framework
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