📉 The Chinese Central Bank in its latest financial stability report highlighted a separate section for crypto assets:

• The purpose of including this section is to reduce data gaps and eliminate regulatory arbitrage

• Report indicates that the crypto market makes up 1% of the global financial system

• The report highlights risks associated with cryptocurrency regulation, such as vulnerability to hacking attacks and market manipulation

• Specific cases are mentioned, such as the collapse of the Terra ecosystem and the decline of the FTX exchange in 2022

China is also reported to be promoting its digital currency through a successful cross-border transaction with precious metals.