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Chinese authorities have issued a public warning about the risks of stablecoin scams, citing increasing reports of fraud and illegal activities. This comes as the country continues to push forward with its own state-backed digital currency plans.
- Chinese regulators warn of stablecoin scams exploiting public trust with flashy terms like 'digital wealth.'
- Global stablecoin market cap hits $255.6B, led by Tether (USDT) and USDC, as adoption grows amid regulatory clarity.
- China’s crackdown on crypto contrasts with its push for a state-backed digital yuan (CBDC).
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