China: Central Bank considers all cryptocurrency transactions illegal, bitcoin accuses … – BFM Business

The central bank considers all cryptocurrency trading and trading activities to be illegal.

New Chinese assault on cryptocurrencies. While Chinese regulators took action in June against bitcoin miners, the National Central Bank goes further and has just ruled cryptocurrency transactions illegal.

The central bank indeed pledged on Friday to crack down on illegal cryptocurrency trading activities, prohibiting foreign exchanges from providing services to investors on the continent via the Internet.

“Business activities related to virtual currencies are illegal financial activities,” the central bank said in an online statement, adding that it “seriously threatens the security of people’s assets.”

The central bank also said it would ban financial institutions, payment companies and internet companies from facilitating cryptocurrency trading, and tighten oversight of risks associated with such activities.

A decision that led to a fall in the values ​​of various cryptocurrencies. Bitcoin was down 6% on Friday morning (36,116 euros) and ethereum fell more than 9% to 2859 dollars.