Gate News: On March 7, People’s Bank of China Governor Pan Gongsheng stated at the Fourth Session of the 14th National People’s Congress during the economic press conference that over the past year, China has orderly resolved financial risks in key areas, and the financial system and markets have operated smoothly, with risks in key areas continuing to converge. The People’s Bank of China, together with relevant departments, maintains a high-pressure crackdown on illegal financial activities such as illegal fundraising, virtual currency trading and speculation, and underground banks. Pan Gongsheng pointed out that moving forward, the People’s Bank of China will orderly resolve risks in key areas to prevent financial risks and maintain financial stability. It will work with industry regulators and law enforcement agencies such as public security to continue high-pressure crackdowns on illegal financial activities, closely monitor and assess the impact of external shocks, and use macroprudential and financial stability policy tools to timely weaken or block risk contagion.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bipartisan PACE Act Proposes Opening Federal Reserve Payment Networks to Non-Banks
Gate News message, April 21 — The PACE Act, introduced by bipartisan U.S. lawmakers, aims to allow compliant non-bank payment institutions direct access to the Federal Reserve's payment systems, garnering support from the crypto industry.
The legislation would establish a federal framework
GateNews39m ago
SEC Commissioner Hester Peirce Admits Past Crypto Policies Were "Wrong in Method"
Peirce admits the SEC mishandled crypto regulation under Gensler, urging earlier framework and more stakeholder engagement, cautioning against overreach, and outlining future focus on stablecoins, RWA tokenization, and custody.
Abstract: In an interview, SEC Commissioner Hester Peirce—often dubbed 'Crypto Mom'—said the agency's crypto regulation during Gary Gensler's tenure was flawed. She called for an earlier, clearer regulatory framework and greater engagement with industry stakeholders before policy actions, cautioned against overreach given Congress's limits, and highlighted future priorities such as stablecoins, tokenization of money market funds and real-world assets, and improved custody frameworks.
GateNews2h ago
Fed Chair Nominee Warsh Backs Crypto Assets at Senate Hearing, Discloses $100M Portfolio
Gate News message, April 21 — US Federal Reserve Chair nominee Kevin Warsh expressed support for digital assets during his Senate Banking Committee confirmation hearing today, stating that cryptocurrencies are "already part of the fabric of our financial industry."
During the nearly 3-hour public s
GateNews2h ago
Trump's Crypto Backing Reaches Historic $1.2B, Sparking National Security Concerns
Gate News message, April 21 — Federal filings reveal that Trump and the Republican Party have accumulated a historic $1.2 billion cash stockpile for the November midterms, with cryptocurrency executives playing a major role in funding the GOP war chest. Democrats currently hold only $261 million in
GateNews6h ago
U.S. Federal Reserve Chair Nominee Wosh: Digital Assets Already Part of U.S. Financial System
Gate News message, April 21 — During a Senate hearing on April 22, U.S. Senator Cynthia Lummis asked Federal Reserve chair nominee Wosh whether digital assets should be integrated into the nation's financial system to provide Americans with new investment opportunities and consumer protections.
Wos
GateNews6h ago
Poland's Crypto Legislation Stalled as MiCA Alignment Deadline Approaches, Triggering Business Exodus
Poland fails to override Nawrocki's veto on crypto regulation, delaying MiCA alignment by the July 1 deadline as firms relocate to Latvia, Czech Republic, Lithuania, and Malta amid regulatory uncertainty.
Poland's parliament again blocks the crypto regulation by Nawrocki's veto, leaving MiCA alignment to a future date and spurring domestic firms to move operations to other EU member states. The dispute centers on concerns about overregulation and broad KNF powers, intensifying political tensions and accelerating crypto outflows before MiCA's transition ends.
GateNews6h ago
