this post was submitted on 27 Oct 2025
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China doubles down on crypto crackdown as central bank vows to expand digital yuan (www.scmp.com)
submitted 3 months ago by rss@news.abolish.capital to c/china@news.abolish.capital
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China on Monday reaffirmed its hardline approach towards virtual currencies at home, warning of the risks of stablecoins, despite growing concerns that the United States might have consolidated its US dollar dominance through them. Instead, the world’s second largest economy vowed to broaden the use of its central bank digital currency known as e-CNY, according to Pan Gongsheng, governor of the People’s Bank of China. “[Stablecoins] are still in their early stages of development,” said Pan,...

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