China Strengthens Control Over Cryptocurrency, Prohibits Companies from Issuing Tokens Abroad Without Authorization: Reports

Regulatory Stance on Cryptocurrencies: Authorities have reiterated that cryptocurrencies do not hold the same legal status as fiat currency, leading to new challenges in financial risk control due to speculative trading in these digital assets.

China's Crackdown on Crypto: China has intensified its crackdown on cryptocurrencies, prohibiting domestic companies from issuing digital tokens overseas without official approval, citing concerns over monetary sovereignty.

Bitcoin and Ethereum Market Movements: Bitcoin has seen an 8% increase, trading at approximately $67,801, while Ethereum has rebounded by 8.5% to around $1,978 after recent declines.

Financial Risks and Regulations: Regulators are emphasizing the need for stronger regulations to safeguard national security and social stability amid the rising challenges posed by cryptocurrency speculation and tokenization of real-world assets.