China Pulls the Plug on Infini Crypto Card: Regulatory Crackdown or Innovation Stifling?
China''s financial regulators just axed the Infini Crypto Card—another casualty in Beijing''s war on decentralized finance. Here''s why the hammer dropped.
No warning, no grace period. One day it was bridging fiat and crypto, the next it was digital roadkill. Sources point to tightening capital controls and that old Communist Party favorite: ''financial stability concerns.''
Meanwhile, Hong Kong keeps courting crypto giants with tax breaks. Mainland China? Still pretending blockchain and Bitcoin aren''t conjoined twins. The PBOC''s digital yuan push looks even more desperate now—state-controlled ''innovation'' at its finest.
Pro tip for crypto firms: When your product works too well at bypassing capital controls, expect a midnight knock from regulators. The only ''stablecoin'' China wants is one they issue themselves.
On June 17, Infini, China’s most well-known crypto card company, announced it is officially ending all card services. The decision comes as cryptocurrency regulations in China continue to tighten. Infini said it will now focus on digital asset management and other f... Read More
