China’s central bank concerned about Stablecoins global risk, warns against Bitcoin

The Chinese central bank is concerned about the global financial dangers posed by digital currency. According to CNBC, Fan Yifei, a deputy governor of the People’s Bank of China (PBoC), voiced worries about the allegedly severe threat that stablecoins like Tether (USDT) represent to global banking and settlement systems.

The source underlined that the rate of development in private payment systems is extremely worrying and that the PBoC is striving to combat monopolies and disorderly capital expansion. Further adding that,

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