Friday, September 24, 2021

China Declares All Cryptocurrency Transactions Illegal

 

CNBC: China’s central bank says all cryptocurrency-related activities are illegal, vows harsh crackdown 

* The People’s Bank of China said services offering trading, order matching, token issuance and derivatives for virtual currencies are strictly prohibited. 

* Overseas cryptocurrency exchanges providing services in mainland China are also illegal, the PBOC said. 

* It’s not the first time China has gotten tough on cryptocurrencies.

Earlier this year, Beijing announced a crackdown on crypto mining. 

China’s central bank renewed its tough talk on bitcoin Friday, calling all digital currency activities illegal and vowing to crack down on the market. 

In a Q&A posted to its website, the People’s Bank of China said services offering trading, order matching, token issuance and derivatives for virtual currencies are strictly prohibited. 

Overseas crypto exchanges providing services in mainland China are also illegal, the PBOC said.  

Read more ....  

WNU Editor: More signs that China is reigning in its economy. 

More News On China Declaring All Cryptocurrency Transactions Illegal  

China says all crypto transactions illegal; Bitcoin tumbles -- AP  

China's central bank declares all cryptocurrency transactions illegal -- France 24  

China declares transactions involving cryptocurrencies illegal -- The Guardian  

Bitcoin plummets after China intensifies cryptocurrency crackdown -- CNN  

China says all crypto-related transactions are illegal, again vows crackdown -- NYPost

1 comment:

Dave Goldstein said...

chinese at it again. they are throwing away the golden goose. idiots.
i guess they going back to being farmers again