China Cracks Down on Crypto Transfers with Stricter Foreign Exchange Rules

Key Takeaways: China has introduced new foreign exchange rules that scrutinize cross-border cryptocurrency transactions, aiming to curb illegal outflows and enhance compliance. Notably, these new regulations, issued by the State Administration of Foreign Exchange (SAFE), require banks and financial institutions to closely monitor crypto-related activities. New Rules Target Crypto Payments According to local press, the…

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