Tag: digital yuan
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China Tightens Grip on Crypto with New Forex Rules
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China has introduced stringent foreign exchange regulations targeting cryptocurrency transactions, further cementing its hardline stance against digital assets. These measures, effective from December 2024, aim to curb risky financial activities, including underground trading and cross-border crypto dealings. New Rules for “Risky” Transactions The State Administration of Foreign Exchange now mandates all banks in mainland China…