According to TheCCPress, China is intensifying its cryptocurrency restrictions, led by the People’s Bank of China, to promote the digital yuan. The crackdown, involving multiple regulatory bodies, includes bans on trading and ownership of digital assets, resulting in massive Bitcoin seizures and liquidity challenges for BTC and ETH. Hong Kong is simultaneously developing a regulated stablecoin ecosystem under a controlled innovation model.
China Tightens Crypto Ban, Promotes Digital Yuan Adoption
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