A company that is changing the way the world mines bitcoin

crypto.news 2025-01-01 12:51:35

China’s new rules force banks to flag transactions with crypto: report

China’s new rules require banks to flag risky transactions, including those involving crypto, making it harder for mainland investors to trade digital assets. China ‘s foreign exchange regulator, the State Administration of Foreign Exchange, has rolled out new rules requiring banks to keep a closer eye on transactions involving digital assets, the South China Morning Post has learned , citing the regulator’s announcement. The rules, applicable to local banks in mainland China, focus on identifying “risky foreign exchange trading behaviors,” the report reads. These include underground banking, cross-border transactions involving crypto, and illegal financial activities. You might also like: China’s digital yuan adoption faces ‘bottlenecks,’ says director of Shanghai-based university Banks now have to track transactions by checking things like who’s involved, where the money is coming from, and how often the trades are happening. Additionally, Chinese banks are also expected to create risk-control measures for these entities and limit their access to certain services, the report says. The new rules are part of China’s push to tighten control over crypto, including Bitcoin trading and mining, which officials see as a risk to financial stability. China has taken a tough stance on crypto over the years. Back in 2017, Beijing banned initial coin offerings and shut down domestic crypto exchanges to prevent financial risks. By 2021, things escalated with a full ban on crypto trading and mining. Despite these restrictions, it’s still technically legal for individuals to hold digital assets, though the gray areas in regulation keep things complicated. Read more: China’s central bank spotlights Hong Kong’s crypto licensing system in new report

Meist gelesene Nachrichten

Metaplanet Targets 10,000 BTC by End of 2025
2025-01-06
Coinbase Explores Tokenized COIN Shares on Ba...
2025-01-06
Ethereum and Other Cryptos Set to Surge in 20...
2025-01-06
Important Pi Network Update as Open Network L...
2025-01-06
Will These Mid-cap Meme Coins Dominate This A...
2025-01-06
Spot Ether ETFs’ record inflow streak snaps
2025-01-06
Ripple CEO: 119th US Congress is the Most Pro...
2025-01-06
Sam Altman Charts Plans for OpenAI: AGI, Work...
2025-01-06

Ähnliche Neuigkeiten

BloFin Achieves Major Milestones in 2024: Strength...
06 Jan 2025
Elon Musk’s X Payment Launch Speculation Fuels Hop...
06 Jan 2025
Is Bitcoin Price Correction Behind Us Finally?
06 Jan 2025
UAE’s Bitcoin mining firm Phoenix Group expands in...
06 Jan 2025
Pepe Eats SUI (PEPESUI) Will Explode Over 17,000%...
06 Jan 2025
Bitcoin Exchange Binance Introduced the 3rd Projec...
06 Jan 2025

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen