The People’s Bank of China (PBOC) reaffirms crypto ban
The People’s Bank of China (PBOC) has repeated its position against cryptocurrencies, especially stablecoins, saying they pose a big risk to financial stability. The PBOC recently met with 12 other regulatory agencies. They are worried about the rise of virtual currency speculation, which they think creates new risk management challenges. The central bank said that virtual currencies are not the same as regular money and should not be used as