區塊鏈與數位幣

China expands crackdown by declaring all crypto activities ‘illegal’

Country’s central bank seeks to stop residents trading on overseas exchanges

China has expanded its crackdown on cryptocurrencies by declaring that all activities related to digital coins are “illegal”.

The People’s Bank of China, the country’s central bank, specifically targeted overseas cryptocurrency exchanges on Friday, declaring that it was illegal for them to provide online services to residents in China.

The move was an apparent bid to close a loophole that remained after the PBoC in May banned domestic financial institutions from providing cryptocurrency transaction services.

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