Authorities add multiple government bodies, including the Ministry of Justice, to strengthen oversight and target stablecoins in ongoing crackdown efforts.
Zhongke Chainsecurity reported that China has added the Ministry of Justice, the Central Financial Office, and the National Financial Supervisory Administration to its cryptocurrency regulatory framework since 2021. A recent meeting emphasized stablecoins as a primary focus for enforcement actions and outlined plans to develop a full-chain monitoring system to enhance oversight capabilities.