China Central Bank: All financial transactions using cryptocurrency are illegal

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The People’s Bank of China has declared that all financial transactions using cryptocurrency are illegal and should be banned.

China’s central bank said Friday that it will strengthen monitoring of risks arising from cryptocurrency trading, stressing that providers of cryptocurrency trading outside of China should not offer their services to mainland investors.

He also emphasized that illegal and crypto-related financial activities will be severely punished.

Source: numbers

Chinese central article: All financial transactions using crypto-currencies are illegal was written in the stock exchange newspaper.