China Tells Brokers To Stop Touting Stablecoins To Cool Frenzy

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.

I'm going to sell you-

[locater16]

"$1, for the price of, Just One Dollar!" - Crowd goes crazy, begins frothing at the mouth

Re:

[Retired Chemist]

minus handling fees and other minor charges

Crytpo is for CRIME!!!

[atrimtab]

minus handling fees and other minor charges

transcation fees, exchange, storage in *our* wallet holding fees, insurance against us losing all your crypto fees....

2% of Bitcoin wallets hold 94% of all bitcoin. [reddit.com]

If true a very few trading among themselves can control the entire market price and volume. And only idiots would play in such a rigged market.

Read the book The Number Go Up! [wikipedia.org] to learn before you lose your entire investment.

I dunno if China is not the Great Country now.

[ndsurvivor]

China is earning my respect, by taking care of starving children around the world, and taking care of their citizens. Maybe what I said is extreme, but under the circumstances, the usa does not smell like a Rose anymore.