After China's crypto crackdown on Bitcoin, stablecoins are next
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China's onslaught on cryptocurrencies does not appear to be ending with the ban on bitcoin mining. When it comes to crypto-related businesses and other cryptocurrencies, notably stablecoins like Tether, the Asian giant's central bank is also bringing down the hammer. The country appears to be concerned about its financial stability and the threat that stablecoins may represent if widespread adoption occurs.