News Snapshot:
On September 24, 2021, the People’s Bank of China (PBOC) and ten other government agencies issued a joint notice, clarifying that cryptocurrency is not considered legal tender in the country. China also prohibits the use of cryptocurrency exchanges located outside of the country in order to provide services to Chinese nationals. Those who work in China and provide services to offshore cryptocurrency exchanges or companies that do business with them have been warned that they will be subjected to an investigation and prosecution, according to the official line of the government. A circular to local governments outlining how to put...
