China Begins Policy Talks to Crack Down on Stablecoin and Crypto Payments

China is actively preparing new enforcement measures aimed at curbing the use of cryptocurrencies and stablecoins for payments. This initiative stems from growing concerns among regulators regarding the increasing financial risks associated with these digital assets and a notable resurgence in trading activity. The government's move signals a tightening of its stance on the cryptocurrency sector, emphasizing a proactive approach to managing potential economic instability.