News Snapshot:
[In The News] China Outlaws All Cryptocurrency Transactions, Mining Activities China’s central bank announced Friday that all cryptocurrency transactions and mining activities are illegal, banning financial institutions from providing digital asset services. “Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies,” the People’s Bank of China (PBOC) said in a statement Friday, according to a [translation](//www.cnbc.com/2021/09/24/china-central-bank-vows-harsh-crackdown-on-cryptocurrency-industry.html) by CNBC. These services include derivatives trading, order matching and token issuance. The country also banned all cryptocurrency mining activities, issuing a joint (//www.ndrc.gov.cn/xxgk/zcfb/tz/202109/t20210924_1297474.html?code=&state=123) from 11 government agencies Friday warning of the “hidden risks caused by...
