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China’s Central Bank Declares All Cryptocurrency-Related Activities Illegal

China’s Central Bank Declares All Cryptocurrency-Related Activities Illegal
Zhou Xiaochuan, governor of the People’s Bank of China, in Beijing on March 12, 2015. Feng Li/Getty Images
Katabella Roberts
Katabella Roberts
9/24/2021|Updated: 12/20/2021

China’s central bank has declared all cryptocurrency-related transactions illegal while vowing to crack down on the virtual currency market.

The People’s Bank of China said in a statement, translated by CNBC, that 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.
Katabella Roberts
Katabella Roberts
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Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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Related Topics
bitcoin
People’s Bank of China
virtual currency
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