Are crypto-currencies illegal in China?

Central Bank for China don announce say all crypto-currencies transactions dey illegal. Di kontri apex bank also ban digital tokens like Bitcoin. "Virtual currency-related business activities don become illegal financial activities," di People's Bank of China tok as dem warn say e dey "seriously endanger di safety of pipo assets".

What is China's crackdown on cryptocurrencies?

Got it! China’s central bank declared all cryptocurrency transactions illegal on Friday, banning overseas crypto exchanges from providing services to investors in the country as it continues its crackdown on cryptocurrencies. China stepped up its crackdown on cryptocurrencies by declaring all such transactions as illegal.

Is bitcoin banned in China?

Bitcoin dives as China cracks down on crypto 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.

Is it illegal for offshore crypto exchanges to serve customers in China?

The bank reiterated that it was illegal for offshore crypto exchanges to serve customers in mainland China, one way that traders there have skirted a longstanding ban on domestic crypto exchanges. The moves on Friday were the latest signal of Beijing’s determination to turn the screws on cryptocurrencies.