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China central bank vows crackdown on cryptocurrency trading By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – A Chinese flag can be seen in the illustration of Bitcoin and other cryptocurrency. This picture was taken June 2, 2021. REUTERS/Florence Lo/Illustration/File Photo

SHANGHAI (Reuters) – China’s central bank vowed on Friday to crack down on illegal activities of cryptocurrency trading, banning overseas exchanges from providing services to mainland investors via Internet.

China’s People’s Bank also stated that it would prohibit financial institutions and payment companies from supporting cryptocurrency trading and will increase monitoring of the risks.

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