China Tightens Crypto Rules with Stricter Forex Oversight

China Tightens Crypto Rules with Stricter Forex Oversight

Strict regulations have been put in place by the Chinese foreign exchange regulator, mandating that domestic banks keep an eye on and report high-risk cryptocurrency foreign exchange transactions. The action, which was announced by the South China Morning Post on December 31, is part of mainland China's ongoing crackdown on digital assets. Risky forex transactions are the focus of new regulations. The new framework requires banks ...

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