China outlaws all crypto transactions and bans mining
PBoC, cyber watchdog and central economic planner act in a joint crackdown on crypto
All crypto-related operations are “illicit financial activities” and could result in criminal charges, 10 of China’s top financial watchdogs and state agencies declared in a joint notice on September 24.
Exchanging cryptocurrency with fiat money, trading crypto and derivatives, issuing tokens, and providing market-making or technical assistance for crypto transactions are all illegal, the agencies said.
Providing crypto services to Chinese citizens via overseas crypto exchanges is also illegal
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
More on Infrastructure
SGX’s new FX platform sees increased NDF trading from US firms
Sef exemption opens door to increased US buy-side interest
FX-style crypto platforms could bridge gap with TradFi
Emergence of execution-only ECNs, prime brokers and clearing houses brings new confidence in crypto
On-chain FX’s brave new world excites some, worries others
Trading tokenised versions of currencies on blockchain could slash settlement risk but sceptics raise concerns over liquidity and pricing
A ‘unified ledger’ and the future of money
Blueprint set out by the BIS staff raises plenty of questions about the ‘singleness of money’
Goldman’s Marquee is a gradual revelation
Multiple apps are being corralled into a sticky cross-asset ecosystem, updated with Python and cloud
FXSpotstream names Ward as new CEO
Former EBS head will take up the role in January 2024, replacing Tom San Pietro
CME picks Houston to lead revamped FX unit as EBS’s Ward exits
Move follows exchange group’s plans to closely integrate EBS with its FX futures business
New hope for crypto derivatives as markets urged to hail CESR
Ethereum staking index could allow swap curve and structured products to develop