Bitcoin
$44,768.42+3.65%
Ethereum
$3,138.98+3.09%
XRP
$1.00+1.66%
Cardano
$2.32+4.67%
Polkadot
$33.23+7.21%
Stellar
$0.303500+4.64%
Dogecoin
$0.227219+2.90%
Chainlink
$25.17+5.17%
Uniswap
$21.36+0.77%
Polygon
$1.22+2.19%
Algorand
$1.98+9.75%
Cosmos
$41.24+3.99%
Litecoin
$163.91+3.10%
Bitcoin Cash
$551.62+2.79%
Wrapped Bitcoin
$44,778.67+3.69%
Filecoin
$74.33+0.51%
The Graph
$0.727156-0.17%
Tron
$0.098582+1.02%
Ethereum Classic
$51.07+1.29%
Tezos
$6.46+16.83%
Aave
$307.22+3.60%
Monero
$247.26+0.82%
NEO
$43.73+3.71%
EOS
$4.36+2.62%
IOTA
$1.38+3.31%
BitTorrent
$0.003515+1.80%
Bitcoin SV
$145.82+0.57%
Waves
$24.91+1.83%
Maker
$2,498.17+0.15%
Dash
$182.96+5.49%
Decentraland
$0.754426+4.11%
Decred
$119.90+2.34%
ICON
$1.74+6.80%
NEM
$0.162797+3.34%
Zcash
$122.22+1.98%
OmiseGO
$9.69+1.58%
NuCypher
$0.297976+3.60%
Paxos Standard
$1.00+0.01%
Yearn Finance
$31,282.50+3.99%
Qtum
$10.84+1.56%
Bitcoin Gold
$56.43+2.38%
Basic Attention Token
$0.703000+3.62%
Ren
$1.02+24.31%
0x
$0.995128+4.96%
Fetch.ai
$0.849815+16.53%
Kava.io
$6.14+12.31%
Bancor
$3.68+2.87%
Band Protocol
$8.08+5.77%
Siacoin
$0.016295+3.03%
Nano
$5.09+4.41%
Loopring
$0.410684+1.64%
Civic
$0.511246+22.01%
Storj
$1.18+4.10%
Numeraire
$42.63+3.60%
Lisk
$3.11+1.24%
Orchid
$0.350840+1.95%
PAX Gold
$1,756.44-0.62%
Enzyme
$141.42-7.27%
Augur
$22.47-1.61%
Aragon
$5.15+0.64%
district0x
$0.161921+4.83%
Kyber Network
$1.57+3.68%
SingularDTV
$0.001375-0.66%
Tether
$1.00+0.02%
USD Coin
$1.00+0.02%
Dai
$1.00-0.00%

China Has Completed ‘Rectification’ of Crypto Transactions: PBOC

The country’s central bank has warned banks and payment services providers to stay away from virtual currencies.

Sep 3, 2021 at 12:35 p.m. UTC
Updated Sep 3, 2021 at 2:31 p.m. UTC

The People’s Bank of China said a crackdown on crypto transactions has been completed.

  • Virtual currency transactions have been “rectified” and supervision has returned to normal, the central bank said in its 2021 Financial Stability Report.
  • The report grouped crypto along with other internet finance activities of concern, including peer-to-peer lending, online asset management and crowdfunding.
  • The PBOC and other authorities have been cracking down on crypto industries since mid-May, enforcing its anti-crypto stance from 2013 and 2017.
  • Mining was the first area of focus, with the State Council calling for a crackdown in May. Local and provincial authorities followed suit, and major mining hubs in the country have gone offline.
  • Authorities and state-sanctioned industry associations have also warned against conducting or enabling virtual currency transactions and trading.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Eliza Gkritsi is a CoinDesk news reporter based in Asia.

Loading...