Feed: Slashdot
Feed Link: https://slashdot.org/
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Title: China Tells Brokers To Stop Touting Stablecoins To Cool Frenzy

Link: https://news.slashdot.org/story/25/08/08/1817...

An anonymous reader shares a report: China told local brokers and other
bodies to stop publishing research or hold seminars to promote stablecoins
[non-paywalled source], seeking to rein in the asset class to avoid
instability. Some leading brokerages and think tanks in late July and earlier
this month received guidance from financial regulators, urging them to cancel
seminars and halt disseminating research on stablecoins, people familiar with
the matter said. Regulators are also concerned that stablecoins could be
exploited as a new tool for fraudulent activities in mainland China, said the
people, who asked not to be identified because the details are private.

Read more of this story at Slashdot.

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