CHINA China's central bank summons financial institutions for harder cryptocurrency crackdown

CHINA

China's central bank summons financial institutions for harder cryptocurrency crackdown

CGTN

19:37, June 21, 2021

China's central bank on Monday said it had recently summoned some banks and payment institutions for harder crackdowns on cryptocurrency trading.

Illustration of bitcoin (File photo: CFP)

The institutions cannot provide crypto-related products or services, including account opening and clearing, said the People's Bank of China in a statement, adding they should timely cut the payment channels for cryptocurrency trading.

The move came shortly after the country's crackdown on cryptocurrency "mining" in several provinces, including the most recent one in the southwestern province of Sichuan ordering the closure of 26 suspected cryptocurrency mining projects.


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