News Snapshot:
SHANGHAI (Reuters) - Agriculture Bank of China (AgBank), the country's third largest lender by assets, said on Monday that it was following guidance from the central bank to clamp down on cryptocurrency trading and mining activities. AgBank is the first major state bank to make a public statement against cryptocurrencies after China's State Council, or cabinet, last month vowed to crack down on bitcoin trading and mining activities. Following a recent meeting with the People's Bank of China (PBOC), Agbank said it would conduct due diligence on clients to root out illegal activities involving cryptomining and cryptocurrency transactions. If a...
