China Cracks Down: Brokers Ordered to Stop Stablecoin Seminars and Reports Immediately

Beijing drops the hammer on crypto intermediaries.

Financial firms caught off guard as regulators escalate stablecoin scrutiny—just another day in the Wild West of digital finance.

No warnings, no phase-outs: China's latest move signals zero tolerance for unapproved crypto activities. Brokerages scrambling to comply while traders shrug—because when has a ban ever stopped crypto innovation?

Bonus jab: Another 'stable' asset meets unstable regulation. Maybe next time try pegging to something less volatile—like common sense.

Stablecoin Growth Prompts Consumer Protection Measures

The latest clampdown comes shortly after Hong Kong introduced a new set of rules for stablecoin issuers. That move led to a surge of interest from mainland Chinese firms, with some market watchers speculating that China might be softening its stance on digital assets. However, the new restrictions suggest the mainland is still approaching the sector carefully.

Stablecoins, which are typically pegged to the U.S. dollar and backed by cash-like assets, have become popular for their speed and low cost in cross-border payments. Global stablecoin supply is expected to grow to $3.7 trillion by 2030, based on industry projections.

In recent weeks, local governments in cities like Beijing, Suzhou, and Zhejiang have also issued public risk alerts linked to crypto and stablecoin scams. These efforts are part of a broader campaign to limit financial risks while keeping public excitement in check.

Also Read: Animoca, Standard Chartered, HKT to Launch New Stablecoin Venture