On August 8, Bloomberg quoted sources familiar with the matter as saying that China has asked local brokerages and other institutions to stop publishing stablecoin-related research reports or holding promotional seminars to prevent the market from overheating and control latent risks. According to sources, in late July and early August, some large brokerages and think tanks received guidance from financial regulators to cancel relevant activities and stop disseminating research content on stablecoins.
Regulators in Beijing, Suzhou and Zhejiang have recently warned of the risks associated with illegal fundraising of virtual currencies and stablecoins. Stablecoins are typically backed by cash-based assets, issued by private companies, pegged to the US dollar and backed by assets such as US Treasury bills. Global stablecoin supply is expected to reach $3.70 trillion by 2030.
Bloomberg: China asks local brokerages to stop promoting stablecoins to prevent market overheating and latent risks
2025-08-08 09:47:44
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