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China/US crypto news #1

China/US crypto news #1

Recently there was a lot of happening in the China and US, crypto wise, from different policy makers. The Central Bank of China declared it will continue its high pressure on different virtual currency trading. USA on the other hand decided to start its own crackdown on crypto exchanges and Stablecoins.

The news were reported by WuBlockchain and Decrpt.co.

China

PBoC held a meeting where they said the following

Seventh, urge and guide platform enterprises to comprehensively rectify according to regulatory requirements, and maintain a high-pressure situation of virtual currency trading speculation. We will adhere to the same kind of business and similar institutions, ensure that rectification is implemented on time and with quality, maintain business continuity and normal operation of enterprises, and maintain the quality of financial services to the broad masses of the people.


Full statement can be found here.

http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/4307709/index.html

In general this means they will continue its current policies in place.

Decrypt did a great article on this subject

US

Representative Don Beyer (D-VA) introduced legislation to regulate digital assets earlier this week. The legislation, titled the “Digital Asset Market Structure and Investor Protection Act,” aims to protect consumers while simultaneously promoting financial innovation.

More information regarding the bill can be found below

Interpretation of the latest crypto bill in the US: exchange and stablecoin are under pressure
Author: Tanshu from WuBlockchain WuBlockchain’s newsletter, Global Mining News on Monday, China Crypto News on Tuesday, and sharing some high-quality articles. 1.Content of the bill Don Beyer, a member of the U.S. House of Representatives, put forward the “digital asset market structure and Investor…

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