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‎China issues a maximum alert against the expansion of cryptocurrencies in the country. According to the PBOC, they have become potential tools for financial crimes such as fraud, money laundering, and illegal transfers of funds abroad. The logic is to attract legitimate businesses, capital, and innovation, bringing activities to light under strict regulatory compliance scrutiny, identity verification (KYC), and anti-money laundering (AML) standards. In this way, the region seeks to foster the ecosystem while attempting to isolate the systemic risks that concern the PBOC.

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