China Flags Illicit Stablecoin Use as Digital Yuan Development Continues
TLDR Shenzhen authorities have issued a public notice warning against the misuse of stablecoins in illegal financial schemes. The notice identifies fraudulent activities linked to stablecoins such as Tether and USD Coin. Officials stated that bad actors are using digital asset terms to lure individuals into scams and fundraising fraud.…
bubmagJuly 8, 2025