China regulators to ban crypto trading and speculation

Chinese authorities have banned all virtual currency trading and speculation.

All ‘cryptocurrency’ related business activities are “illegal financial activities” and strictly prohibited, according to a joint announcement by China’s central bank and nine other government departments.

Oversea crypto exchanges providing services to Chinese domestic residents via the internet are considered as illegal financial activities. Financial and non-bank payment institutions are banned from providing services related to cryptocurrencies.

Source: https://www.pinsentmasons.com/out-law/news/china-regulators-to-ban-crypto-trading-and-speculation