Chinese central bank pledges to take tough action against the cryptocurrency industry

Chinese central bank pledges to take tough action against the cryptocurrency industry

In this photo, the bitcoin logo is seen on a mobile device with the flag of the People’s Republic of China in the background. (Photo Illustration by T / SOPA Images / LightRocket via Getty Images)

Budrul Chukrut | SOPA Pictures | LightRocket | Getty Images

On Friday, China’s central bank renewed its firm stance on bitcoin, calling all digital currency activity illegal and pledging to crack down on the market.

“Financial institutions and non-bank payment institutions may not provide services for activities and operations related to virtual currencies,” the People’s Bank of China said in a question-and-answer statement on its website on Friday.

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here