China: Regulation of cryptocurrencies widely restricting financial institutions' involvement
Progress
Current status
adopted
18 May 2021 adopted
Scope
Implementers
China
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central bank
Implementation Level
national
Timeline of events
Regulation of cryptocurrencies widely restricting financial institutions' involvement
The People's Bank of China published an announcement by the China Internet Finance Association, China Banking Association, and China Payment and Clearing Association stating that financial institutions shall not accept virtual currencies as payment …
SourceEvent type
order
Action type
adoption
Government branch
executive
Government body
central bank