China steps up crackdown on cryptocurrency, calling all related activities illegal
China steps up crackdown on cryptocurrency, calling all related activities illegal

China steps up crackdown on cryptocurrency, calling all related activities illegal

China’s top regulators stepped up a crackdown on cryptocurrency with a blanket ban on all crypto-related trading and mining activities.

Ten government departments including the Peopler's Bank of China (PBOC) as well as banking, securities and foreign exchange regulators pledged to work together to clean up “illegal” cryptocurrency activity, according to a statement released by the central bank on Friday.

The PBOC said services offering trading, order matching, token issuance and derivatives for cryptocurrencies are strictly prohibited and overseas crypto exchanges providing services in mainland China are also illegal.

“Overseas . . .

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