🚨 China escalates its war on crypto
🇨🇳 The People's Bank of China and 7 regulatory bodies impose strict restrictions:
🚫 Ban on issuing cryptocurrencies outside China without approval
🚫 Prohibit stablecoins linked to the yuan externally
🌍 The restrictions include local and foreign entities subject to China
⚠️ A step aimed at protecting monetary sovereignty amid increasing pressures on global crypto markets.
🔒 What does the ban actually include?
🚫 All cryptocurrencies without exception (including Bitcoin and Ethereum)
🚫 ICOs (Initial Coin Offerings)
🚫 Trading within China
🚫 Mining
🚫 Issuing stablecoins linked to the yuan outside China
📌 Directly affected currencies (for example, but not limited to):
Bitcoin (BTC)
Ethereum (ETH)
Tether (USDT)
USD Coin (USDC)
💡 In summary:
China is not fighting a specific currency but rather the idea of decentralization itself to protect its monetary control and support the digital yuan (e-CNY).
Any stablecoin or project related to the Chinese yuan
❓ Is strict regulation a threat or the beginning of a maturation phase for the market?
#ChinaCrypto #BinanceAI #Stablecoins #DigitalAssets #BinanceSquare