China: Crypto-currency transactions declared as illegal financial activities
Description
Crypto-currency transactions declared as illegal financial activities
On 24 September 2021, the People's Bank of China declared all transactions involving virtual currencies as illegal financial activities, reasoning that the move was necessary for the protection of private property. After banning the trade of crypto-…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank