The People's Bank of China has clarified that trading cryptocurrencies inside the country is illegal. As its argument, the PBOC said cryptos are dangerous because people can lose their assets.
Pboc RSS
A representative from the People's Bank of China has announced that the country's national cryptocurrency is almost ready for prime time. No exact date for its launch was given, however.
China's central bank has been spurred on to develop a cryptocurrency following the news of Facebook's Libra 2020 launch. It said it's concerned about the influence the dollar will have on Libra.
OKCoin has resumed offering bitcoin withdrawals in China following a freeze instituted at the start of the year by Chinese regulators. Another exchange, Huobi, is expected to resume withdrawals soon.
After meeting with China's central bank, levies upon transactions going through many of the country's bitcoin exchanges have been implemented to help deter speculation among high volume traders.
