Citing Coincu, China's CSRC Chairman Wu Qing emphasized the need for enhanced risk monitoring in the crypto sector during an event with Shanghai Securities News. He highlighted the importance of preventing risks associated with crypto assets, particularly in areas such as margin trading, derivatives, and asset management. Wu Qing reiterated that unclear or uncontrollable crypto businesses should not be allowed to operate, reinforcing China's strict regulatory approach. The remarks are seen as a continuation of existing policy rather than new directives, with no immediate impact on major cryptocurrencies. Financial institutions are urged to tighten compliance to avoid unlawful activities. Market reactions have historically included short-term volatility, but the overall outlook remains stable.
CSRC Chairman Calls for Enhanced Crypto Risk Monitoring in China
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