Financial regulators in China ordered local companies to halt seminars and the publication of research related to stablecoins, citing concerns over fraud and speculation.
Chinese authorities instructed brokers, research centers, financial organizations, and other companies to immediately cancel scheduled seminars, roundtables, and conferences on stablecoins, as well as to stop preparing and distributing any analytical materials on the topic, Bloomberg reports.
The directive applies to both public and private meetings with clients and partners. The ban is motivated by fears that stablecoins could be used for fraudulent schemes and may lead to widespread retail investor involvement without proper understanding of the risks. Financial regulators also tightened control over digital assets, requiring banks to monitor and block risky crypto transactions linked to cross-border gambling, underground banking activities, and illegal international transfers.
However, it’s worth noting that despite strict cryptocurrency bans domestically, Chinese authorities maintain flexibility beyond their borders. For example, China actively promotes initiatives related to the digital yuan internationally, and the People’s Bank of China is considering requests from tech giants to issue yuan-pegged stablecoins to strengthen the national currency’s position in global trade.
Despite government restrictions, the majority of Asian crypto investors reside within China.
