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Reports: People’s Bank of China forbids local companies engagement with cryptocurrency

22 January 2018 00:00, UTC   |   1065
Reports: People’s Bank of China forbids local companies engagement with cryptocurrency

Chinese outlets tell about a new document or order issued by the central bank of this country called People’s Bank of China. This official decree orders companies within the state borders to stop working with cryptocurrency payments. This has been confirmed by at least two local media publications.

As noted by South China Morning Post, the document has been issued by the PBoC last Wednesday, but first reports regarding instructions in it can be traced back to the Friday evening. This is due to the fact that this set of new measures the banks of China now have to activate was issued only between financial organizations, thus not appearing in the public domain before the end of the last week.

Chinese authorities banned ICOs, and later - cryptocurrency exchanges, which led towards a big drop of Bitcoin price (later, however, it has regained positions) and local crypto market degradation.

Bitnewstoday must remind here about skepticism any unconfirmed sensational news should be met with. At the press time, there has been no confirmation from the PBoC itself.

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