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<ul class="news-points"><li>China’s crypto crackdown continues: PBOC appointment reinforces strict regulations.</li><li>New appointment creates ambiguity in how China’s crypto stance will progress.</li><li>Hong Kong takes a proactive approach with a new licensing system for virtual asset service providers.</li></ul>Recent developments at the People’s Bank of China (PBOC) have dampened speculation surrounding a potential relaxation of the ban on digital asset trading in the country.Prominent figures in the industry, including Jeremy Allaire, CEO of Circle Internet Financial Ltd., had pointed to Beijing’s <a href="https://coinedition.com/beijing-lays-support-for-hong-kongs-dream-to-be-a-crypto-hub/" rel="noopener noreferrer nofollow">support</a> of Hong Kong’s aspirations to become a cryptocurrency hub as a sign that China might reconsider its stance. However, the appointment of Pan Gongsheng as the top Communist Party official at the PBOC has prompted a rethink.This appointment indicates a continuation of existing policies at the institution, which categorically declared all crypto-related transactions illegal in 2021. Moreover, it positions Pan as a potential contender for the role of PBOC governor. Pan’s appointment, announced on Saturday, also brought attention to some noteworthy remarks he made in the past during a crackdown on cryptoc…The post <a href="https://coinedition.com/chinas-crypto-clampdown-persists-pboc-appointment-dashes-hopes/" rel="noopener noreferrer nofollow">China’s Crypto Clampdown Persists: PBOC Appointment Dashes Hopes</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

China’s Crypto Clampdown Persists: PBOC Appointment Dashes Hopes

Coin Edition

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