› UKTH forums › 🛠️ Life & Stuff › Chatter › China declares all crypto-currency transactions illegal China’s central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin. “Virtual currency-related business activities are illegal financial activities,” the People’s Bank... › Reply To: China declares all crypto-currency transactions illegal China’s central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin. “Virtual currency-related business activities are illegal financial activities,” the People’s Bank…
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Trading crypto-currency has officially been banned in China since 2019, but has continued online through foreign exchanges.
However, there has been a significant crackdown this year.
In May, Chinese state intuitions warned buyers they would have no protection for continuing to trade Bitcoin and other currencies online, as government officials vowed to increase pressure on the industry.
In June, it told banks and payment platforms to stop facilitating transactions and issued bans on “mining” the currencies – the trade of using powerful computers to make new coins.
Read more: https://www.bbc.co.uk/news/technology-58678907
In a completely sane world, madness is the only freedom (J.G.Ballard).
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