China Tightens Regulatory Grip on Crypto Speculation

China’s regulatory crackdown on cryptocurrency has intensified, targeting platforms like Xiaohongshu and Taobao to curb speculative activities. The Beijing Business Daily recently uncovered tactics used by crypto influencers on these platforms, leading to continued enforcement efforts by the PBOC, led by Governor Pan Gongsheng. This tightening regulatory stance impacts China’s financial stability and underscores the ongoing conflict between regulated and decentralized digital currencies.