๐จ๐ณ Urgent: Bloomberg reports that China is asking local brokers to stop promoting stablecoins!
โโโโโโโโโโโโโโโ
๐ The most important news:
* A report from Bloomberg states that Chinese authorities have asked local brokers and other groups to stop promoting stablecoins.
* This directive comes to prevent the dissemination of research or holding seminars related to this asset class, aiming to control speculation and avoid fraud.
โโโโโโโโโโโโโโโ
๐ก What does this mean?
* This step is considered a continuation of China's strict regulatory stance towards digital currencies, especially in the mainland, although Hong Kong is adopting a more open approach.
* This directive shows that China still sees stablecoins as a potential concern for financial stability and is cautious about them becoming a new means for illegal activities.
* This decision may contribute to strengthening the dominance of stablecoins issued from Hong Kong in the region, as it provides a safe testing environment for these assets.
โโโโโโโโโโโโโโโ
โ How does the contradictory stance of China and Hong Kong affect the future of stablecoins in Asia?
โโโโโโโโโโโโโโโ
๐ If you liked the content, support me with a like and follow to stay updated.
LEGENDARY_007