China urges banks, Alipay to crack down harder on cryptocurrencies – Netscape Money & Business

06/21/2021 12:47 SHANGHAI (Reuters) -China’s central bank said on Monday it had recently summoned some banks and payment firms, including China Construction Bank and Alipay, urging them to crack down harder on cryptocurrency trading. The People’s Bank of China’s meeting came after China’s State Council, or cabinet, last month said it would tighten restrictions on bitcoin trading and mining. Beijing has sharply ratcheted up its campaign in the last few weeks. The PBOC urged institutions at the meeting to launch thorough checks on clients’ accounts to identify those involved in cryptocurrency transactions, and promptly cut their payment channels. It did…