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 N...