China has tightened its rules on yuan-backed stablecoin issuance, barring both domestic and offshore entities from issuing such a stablecoin without approval. This comes as U.S. Treasury Secretary Scott Bessent urged Congress to pass the CLARITY Act to enable the U.S. to maintain its crypto lead over other countries, including China. China Tightens Crypto Rules
The post China Tightens Stablecoin Rules as Bessent Urges Congress to Pass CLARITY Act to Keep Crypto Lead appeared first on CoinGape.
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