China's central bank renewed its tough talk on bitcoin Friday, calling all digital currency activities illegal and vowing to crack down on the market.
In a Q&A posted to its website, the People's Bank of China said services offering trading, order matching, token issuance and derivatives for virtual currencies are strictly prohibited.In this photo illustration, the Bitcoin logo is seen on a mobile device with People's Republic of China flag in the background. China's central bank renewed its tough talk onFriday, calling all digital currency activities illegal and vowing to crack down on the market.
In a Q&A posted to its website, the People's Bank of China said 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. "Overseas virtual currency exchanges that use the internet to offer services to domestic residents is also considered illegal financial activity," the PBOC said, according to a CNBC translation of the comments.
"Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies," the bank added, reiterating
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