Banks Will “Closely Monitor” Crypto Transactions As China Imposes New Forex Rules
As its grip on cryptocurrency activities is tightened once again, China has introduced new foreign exchange rules that impose stricter scrutiny on cryptocurrency transactions. According to a report from South China Morning Newspaper dated December 31, 2024, Banks are expected to monitor and report “risky foreign exchange trading behaviours”. This includes underground banking, cross-border gambling, … Read more