China Just Made Crypto Transactions Fully Illegal


Source: gizmodo.com gizmodo.com

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After spending the past few months rounding up an untold number of crypto criminals across China, it looks like local authorities have finally had enough. The People’s Bank of China posted a terse notice on its blog on Friday morning where the financial regulator made its stance pretty clear: Any crypto-related transactions are considered “illicit financial activity,” and are 100% illegal. Yes, even if you’re working with offshore exchanges. Yes, even dogecoin. (Sorry, Elon.)The notice highlights cryptocurrency mainstays bitcoin and ethereum as examples of what the country’s trying to stamp out. Roughly translated, the Bank defines both of these as...