China outlaws all crypto transactions and bans mining
PBoC, cyber watchdog and central economic planner act in a joint crackdown on crypto
All crypto-related operations are “illicit financial activities” and could result in criminal charges, 10 of China’s top financial watchdogs and state agencies declared in a joint notice on September 24.
Exchanging cryptocurrency with fiat money, trading crypto and derivatives, issuing tokens, and providing market-making or technical assistance for crypto transactions are all illegal, the agencies said.
Providing crypto services to Chinese citizens via overseas crypto exchanges is also illegal
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