total ban of cryptocurrency use in china

China’s central bank said in a statement that all digital currency activities are illegal and that the market would be controlled. services that provide trading, order matching, token issuance, and swaps for virtual currencies are absolutely banned under chinese law, according to the people’s bank of china. furthermore, according to the pboc, international cryptocurrency exchanges that offer services in mainland china are banned. it went on to warn that workers of foreign bitcoin exchanges will be investigated.

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