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China’s Central Bank Slams Stablecoins as ‘Threat,’ Vows Crackdown on USDT and USDC
China’s central bank intensified its stance against stablecoins, with People’s Bank of China (PBoC) Governor Pan Gongsheng calling dollar-pegged tokens a threat to global financial stability and monetary sovereignty. Speaking at the Financial Street Annual Meeting in Beijing, Pan said stablecoins amplify vulnerabilities in the financial system and fall short of core compliance standards, including AML and KYC, warning they can facilitate illicit finance.
Keyword Financial
Oct 27, 20255 min read
Makina Protocol Hack: Why Early 2026 is Seeing a Surge in DeFi Exploits
Makina, a DeFi protocol, reported a $4.2 million exploit on 20 January 2026 tied to liquidity providers in its DUSD/USDC Curve pool, adding to rising DeFi attacks in early 2026 with over $34 million in losses already recorded.
China Takes Custody of Alleged Pig Butchering Mastermind Behind Record BTC Seizure
Chinese authorities have taken custody of Chen Zhi, a businessman described by U.S. officials as a central figure in a major Bitcoin scam and money laundering operation linked to a record $15B bitcoin seizure. Chen, 38, is the chairman and founder of Cambodia-based Prince Group, a conglomerate that U.S. and U.K. authorities allege was used as cover for transnational criminal activity; Prince Group has denied the allegations.
CLARITY Act Update: DeFi Carve-Out, Digital Commodities, and the Next Phase of Crypto Market Structure
Washington is preparing a January markup for the Digital Asset Market Clarity Act (CLARITY Act) of 2025, a major U.S. crypto regulation proposal designed to reduce the long-running SEC vs CFTC jurisdiction fight and create clearer rules for digital assets trading.
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