🇨🇳 China tightens regulations on crypto! Banks must monitor risky foreign exchange transactions, especially those related to crypto. This could make purchasing digital assets more difficult. 📉

- New regulations require tracking of identity, source of funds, and transaction frequency.

- Lawyer Liu Zhengyao stated that this regulation will complicate legal loopholes through crypto.

Despite this, China remains second in Bitcoin holdings, with 194,000 BTC (~18 billion USD). 🚀

- This amount of BTC mainly comes from the confiscation of assets related to illegal activities.

- CZ Zhao from Binance predicts that China may adopt a Bitcoin reserve strategy in the future.

What do you think about this move by China? Comment below! 👇