China Central Bank Issues Detailed Crypto Crackdown Guidelines, Crypto Market Turns Red

People's Bank of China (PBoC) issued a fresh set of detailed crypto crackdown guidelines today even when many were assured that we are past China crypto ban FUD. The new set of guidelines seems to be quite comprehensive and prohibits every aspect associated with cryptocurrencies. The Chinese central bank deemed crypto illegal and claimed it to be a highly speculative market. The guidelines were issued on three main points that include, – Prevention of crypto mining – Prevention of crypto trading – Bars Foreign crypto exchanges from offering services to Chinese customers What makes these guidelines significant is the fact…