Η China prohibited financial institutions and payment companies from providing related services cryptocurrency transactions and warned investors about speculative trading with cryptocurrencies, as transmitted by Reuters.
Ήwhen China's latest attempt to curb the digital market in the country. According to the ban, such institutions, including banks and online payment channels, should not offer customers any services that include cryptocurrencies, such as registration, trading, clearing and settlement, three industry players said in a joint statement on Tuesday.
«Recently, cryptocurrency prices have soared and then fallen, and speculative cryptocurrency trading has recovered, seriously violating the security of people's property and disrupting the normal economic and financial order.", They stated in their statement.
The three industrial operators are: the National Internet Financing Association of China, the Banking Association of China and the Payment and Clearing Association of China.
China has banned cryptocurrency exchanges and initial coin offerings, but has not banned individuals from possessing cryptocurrencies.
Institutions should not provide cryptocurrency savings, credit or freezing services, nor issue a financial product related to encryption, the statement said.
The Bitcoin and other major cryptocurrencies declined after the People's Bank of China announced that digital currencies could not be used as a method of payment. The largest cryptocurrency fell to 7,3% at $ 40.139 in Asia on Wednesday.
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