Bitcoin.com
2020-07-07 18:25:56

Escalating Bank Runs Spur Chinese Government to Require Approval for Large Cash Transactions

A series of bank runs has prompted the Chinese government to begin requiring approval for large cash deposits and withdrawals at commercial banks, starting with banks in a northern province. Recently, two bank runs happened within a week as people lost faith in financial institutions amid unprecedented economic contraction. China’s Efforts to Prevent Bank Runs […]The post Escalating Bank Runs Spur Chinese Government to Require Approval for Large Cash Transactions appeared first on Bitcoin News.

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