China Bans Unapproved Yuan Stablecoins

The post China Bans Unapproved Yuan Stablecoins appeared first on Coinpedia Fintech News China has banned unapproved offshore yuan-pegged stablecoins to stop crypto-based capital flight and financial crime. The People’s Bank of China repeated its strict ban on crypto activity, citing risks tied to money laundering and foreign exchange fraud. Hong Kong regulators also warned that no licenses have been issued, and promoting such stablecoins is illegal. The …