One expert suggests that the PBOC's anticipated intervention to curb yuan fluctuations might not only intensify the strengthening of the dollar index but also compound the troubles faced by the crypto market.
Even before the introduction of Binance in 2017, the Binance founder described several personal and business-related problems he faced from the Chinese authorities.
Following the collapse of Terra's algorithmic stablecoin, China's Economic Daily media source has hinted that more regulatory action against stablecoins may be taken.
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