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Author: Admin | 2025-04-28
Cryptocurrencies, and investigate employees of foreign cryptocurrency exchanges inside China as well as others in the industry who continued to advertise or provide crypto-related services.[…] Chinese regulators have worried that cryptocurrencies’ decentralized, anonymous transactions facilitate money laundering and illegal capital flight out of the country. There are signs that its resolve to crack down on cryptocurrencies has grown stronger in recent months. [Source]#China central bank declares #virtualcurrency-related business activities as illegal. No legal tender/crypto exchange; exchange between virtual currency; token issuance; derivatives; providing info; others. Crimes punished. BUT no ban on #crypto POSSESSION.https://t.co/hEQKetxbjO— Eunice Yoon (@onlyyoontv) September 24, 2021The ban follows a series of tough measures by the Chinese government to crack down on cryptocurrencies, dating back 2013, when the government prohibited Chinese banks from using Bitcoin. Matthew Fox of Business Insider assembled a broad timeline of recent regulations:December 2013: China bans banks from handling bitcoin transactions […]September 2017: China orders local cryptocurrency exchanges to cease operations.The country banned initial coin offerings and ordered all domestic cryptocurrency exchanges to end operations within the country. The move came amid a strong bull market for bitcoin which eventually topped out near $20,000 in late 2017.May 2021: China bans various financial institutions and payment firms from offering crypto services.The country reiterated its prior bans from 2013 and 2017, citing the dangers of speculative trading in the crypto coins, and cemented the ban for various payment platforms and business activities related to cryptocurrencies.June 2021: China ramps up crypto mining crackdown.The country set its eyes
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