Sammyesx
Active member
China government has placed a banned on financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading.
Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrency, such as registration, trading, clearing and settlement, three industry bodies said in a joint statement on Tuesday.
“Recently, crypto currency prices have skyrocketed and plummeted,
China has banned crypto exchanges and initial coin offerings but has not barred individuals from holding cryptocurrencies.
The institutions must not provide saving, trust or pledging services of cryptocurrency, nor issue financial product related to cryptocurrency, the statement also said.
The statement also highlighted the risks of cryptocurrency trading, saying vitural currencies “are not supported by real value”, their prices are easily manipulated, and trading contracts are not protected by Chinese law.
Coming at a time when the crypto market is experiencing a lot of dip. Do you think the dip will continue?
Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrency, such as registration, trading, clearing and settlement, three industry bodies said in a joint statement on Tuesday.
“Recently, crypto currency prices have skyrocketed and plummeted,
China has banned crypto exchanges and initial coin offerings but has not barred individuals from holding cryptocurrencies.
The institutions must not provide saving, trust or pledging services of cryptocurrency, nor issue financial product related to cryptocurrency, the statement also said.
The statement also highlighted the risks of cryptocurrency trading, saying vitural currencies “are not supported by real value”, their prices are easily manipulated, and trading contracts are not protected by Chinese law.
Coming at a time when the crypto market is experiencing a lot of dip. Do you think the dip will continue?