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The People's Bank of China held a meeting, emphasizing the crackdown on illegal foreign exchange activities using stablecoins and continuing to enforce the relevant ban from 2021. Lawyer Xiao Sa pointed out that the expansion of the stablecoin market fosters money laundering and other criminal activities, with increasing regulatory efforts. Hong Kong and the mainland contrast open and restrictive policies on virtual assets. #稳定币 # money laundering #监管 # virtual currency
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