China Bans Financial Institutions from Crypto Business By CoinQuora


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China Bans Financial Institutions from Crypto Business China banned financial institutions offering services related to crypto transactions. This is not Beijing’s first ban move against crypto. China has banned financial institutions and payment firms from offering services related to crypto transactions, according to the Reuters report. Also, warned investors over speculative crypto trading. This is China’s recent attempt to restrain the burgeoning crypto trading market. Under the ban, some institutions, such as banks and online payment channels, must not offer clients any service that involves crypto. This includes registration, trading, clearing, and settlement. However, three industry bodies explained in a...