China To Ease Crackdown On Crypto? 

People’s Bank Of China Announces To Ease Crackdown On Tech

Chinese central bank will ease its crackdown on tech companies, Guo Shuqing, Communist party chief of the People's Bank of China, said to local media.

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China’s central bank will step up support for private firms as part of steps to shore up the economy while easing crackdown on tech firms.

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Though PBoC chief did not directly mention crypto, China has been crackdown on crypto-related firms for the past 6-7 years.

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Chinese financial institutions should treat all types of enterprises fairly, Guo Shuqing said.

Authorities will aim to widen financing channels for private firms, supporting their stock and bond issuance, Guo said.

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Since late 2020, China has crackdown heavily on sprawling fintech giants, requiring them to return to basics after years of breakneck growth.

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If China eases crypto regulations, 2023 might prove itself as a breakthrough year for the industry.

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