HomeDIGITAL ASSETS REGULATORYworldwide-stablecoinCrypto Trading Platforms Involved in $2.2B Illegal Chinese Forex Ring: Report

Crypto Trading Platforms Involved in $2.2B Illegal Chinese Forex Ring: Report

The recent crackdown in China is seen as another move in their ongoing efforts to combat capital flight. This crackdown is believed by some to be the true motivation behind the country’s ongoing ban on cryptocurrencies. China has been tightening its grip on capital outflows in recent years, implementing various measures to prevent money from leaving the country. The ban on cryptocurrencies is seen as a way to further control capital flight, as digital currencies can provide an avenue for individuals to move funds across borders. This latest bust is seen as a reinforcement of China’s commitment to tackle capital flight and maintain strict control over its financial system.

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