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Ethereum World News 2023-05-31 12:49:42

Trust Reserve CNHC Stablecoin Team Detained In China: Report

Trust Reserve CNHC Stablecoin Team Detained In China: Report

Summary: Law enforcement in China arrested the Trust Reserve team behind a Yuan-backed stablecoin and another token backed by the Hong Kong Dollar. Authorities wrote a “judicial seizure” notice at the teams’ office in Shanghai, PANews reported after visiting the building. The news follows unverified rumors that Multichain’s team was also arrested in China shortly after a so-called “force majeure” froze thousands of transactions on the cross-chain protocol. Reports from PANews said that police in China arrested team members from

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