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China's central bank vows crackdown on virtual currency, flags stablecoin concerns - REUTERS

NOVEMBER 29, 2025

BEIJING, Nov 29 (Reuters) - China's central bank reaffirmed its tough stance on virtual currencies on Saturday, warning of a resurgence in speculation and vowing to crack down on illegal activities involving stablecoins.
The People's Bank of China (PBOC) said at a coordinating meeting on virtual currency regulation on Friday that crypto speculation has recently increased due to various factors, presenting new challenges for risk control, according to a statement released by the central bank.

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