China Bans Cryptocurrencies in Financial Institutions

China Bans Financial Institutions from Providing Cryptocurrency Services China banned financial institutions from providing services related to cryptocurrency transactions, and has warned investors against speculating in cryptocurrency. Official Industry bodies said on Tuesday that under the new ban banks and online payment channels should not provide customers with any service that involves cryptocurrencies, such as registration, trading, clearing and settlement. They said: "Recently, cryptocurrency prices have risen and dropped significantl , and speculative trade in cryptocurrencies has boomed, which is a serious violation of the integrity of people's property and disrupts the normal economic and financial system." Advertisements The statement…