China Urged To Reevaluate Crypto Ban By Former Finance Official Amid US Policy Changes

Quick Summary:

Amid increasing discussions surrounding the crypto regulation landscape, a former senior official from China’s Ministry of Finance has urged the government to reconsider its stringent ban on virtual assets.

The overarching rationale behind these measures concerns financial stability and the potential for cryptocurrencies to facilitate criminal activities, including money laundering and terrorist financing.

Yang warned that if former president Trump were to regain his seat in the Oval Office, China might face increased “financial isolation,” potentially being removed from the SWIFT financial messaging system.

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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets: HungaryChinaHong KongUnited States

Topics: Cryptocurrency China Crypto China ban Cryptocurrencies Digital currency Crypto regulation Crypto Bitcoin Mining China Ban China crypto ban Bitcoin Ban China Crypto News DeFi Crypto news

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-01 @ 02:30:28 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 540 words

Reading Time: 3 minutes read

Sentences: 31 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22827617

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

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Year Established: 2014

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News Last Updated: 9 hours ago

Coverage Areas: Hungary

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