China set to crackdown on Tether in foreign exchange trading
China is intensifying its scrutiny of cryptocurrency usage, focusing particularly on Tether (USDT) in foreign exchange trading. The Supreme People’s Procuratorate (SPP), the country’s highest legal prosecution agency, issued a joint statement with the State Administration of Foreign Exchange (SAFE) on December 27, aiming to reinforce measures against the use of Tether stablecoin in cross-border…