China's new forex rules require banks to tighten scrutiny on cryptocurrency
Tue, Dec 31, 2024 3:46 PM

China's new forex rules require banks to tighten scrutiny on cryptocurrency

A Flip by Riya Sharma
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China's foreign exchange regulator released new rules that require banks to flag risky trades, including those involving cryptocurrencies, which would make it more difficult for mainland investors to buy and sell bitcoin and other digital assets. Banks are expected to monitor and report "risky foreign exchange trading behaviours", including underground banks, cross-border gambling.

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