People's Daily Bans Virtual Currency
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Rufus
2023-05-29 07:52
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Dawn
Release time 2023 05 29
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Valley
Release time 2023 05 29
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Annette
Release time 2023 05 29
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Butterfly
The People's Daily announced a ban on cryptocurrencies, prohibiting their trading and use within China's borders. This decision was made due to concerns over financial stability and security risks associated with virtual currency transactions. The government's goal is to prevent illicit activities such as money laundering and promote the stability of the nation's financial system. This ban aligns with China's broader crackdown on cryptocurrency activities, which has been implemented since 2017.
Release time 2023 05 29
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Georgia
The People's Daily prohibited virtual currency because of concerns over their lack of regulation, potential for fraud, and association with illicit activities such as money laundering and terrorism financing. The publication believes that cryptocurrencies pose a threat to China's financial stability and would prefer to promote the use of legal tender and state-regulated digital currencies instead.
Release time 2023 05 29
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Gale
Release time 2023 05 29