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Chinese authorities are intensifying enforcement of cryptocurrency prohibitions following a surge in speculative trading, with the People's Bank of China warning that all virtual currency activities remain illegal despite years of comprehensive restrictions. The PBOC convened a high-level coordinati

The People's Bank of China reinforced the nation's cryptocurrency prohibition over the weekend, warning that digital asset trading has reemerged despite a ban implemented three years ago. The central bank singled out stablecoins as a primary concern, pledging intensified enforcement against what it

Chinese regulators have explicitly singled out stablecoins as a key threat to financial stability in a significant escalation of the country's campaign against digital assets. What Happened In a high-level meeting led by the People's Bank of China (PBoC) on Nov. 28, officials from more than a dozen

Chinese e-commerce giant Alibaba has signaled its intention to deploy bank-backed deposit tokens for cross-border payments, navigating a strategic path around Beijing's increasingly rigid stance against privately-issued stablecoins. The development represents a critical pivot in how China's technolo

China's cybersecurity agency has accused the US government of orchestrating the theft of approximately $13 billion worth of Bitcoin from a Chinese mining operation, marking Beijing's latest effort to blame Washington for major cyberattacks. The Chinese National Computer Virus Emergency Response Cent