What Beijing's new crackdown means for crypto in China
The Hindu
China does not recognise cryptocurrencies as legal tender and the banking system does not accept cryptocurrencies or provide relevant services
(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) Chinese regulators have tightened restrictions that ban financial institutions and payment companies from providing services related to cryptocurrency, marking a fresh crackdown on digital coins. Many of the new rules expand on previous restrictions aimed at cryptocurrencies and close loopholes that had allowed some finance and payment firms to continue in the trade.
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