News > China declares all cryptocurrency transactions illegal to curb unofficial use of digital money
China declares all cryptocurrency transactions illegal to curb unofficial use of digital money
The Free Press Journal | 24/09/2021 10:46 PM | Click to read full article
China’s central bank on Friday declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block the use of unofficial digital money. Chinese banks were banned from handling cryptocurrencies in 2013, but the government issued a reminder this year.
Friday’s notice complained Bitcoin, Ethereum and other digital currencies disrupt the financial system and are used in money-laundering and other crimes.