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China Bans Payment Firms From Crypto Business 1 min read May 18, 2021 cryptheory China has banned financial institutions and payment firms from engaging in business related to cryptocurrency transactions. It has also warned investors against crypto trading which it has described as speculative. This ban means that entities like banks will not be allowed to offer clients cryptocurrency services. “Recently, cryptocurrency prices have skyrocketed and plummeted, and speculative trading of cryptocurrency has rebounded, seriously infringing on the safety of people’s property and disrupting the normal economic and financial order,” three industry bodies said in a combined statement today. Those...
