China Orders Brokerages to Halt Stablecoin Promotions Amid Crypto Ban

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China bans brokerages and think tanks from stablecoin seminars and research. Officials fear stablecoins could become new fraud vehicles in mainland China. Despite bans, OTC crypto trading hits $75B; Hong Kong grows as digital asset hub. China’s financial regulators have ordered brokerages and think tanks to cancel seminars and cease publishing research on stablecoins, according to Bloomberg sources cited by Reuters. Authorities are concerned that stablecoins could become a new vehicle for fraud ...