Financial and payment institutions are advised to prohibit cryptocurrency-related transactions such as the issuance of shares or the sale of tokens.

In another major price crash, Bitcoin (BTC) has corrected another 12% dropping under its crucial support levels of $40,000. Bears are clearly in charge of the market at this point. The recent price crash comes as The People’s Bank of China (PBoC) warns local businesses and institutions of dabbling into Bitcoin and crypto. This is

The post Bitcoin Under $40,000 As Exchanges See The Largest Single-Day Deposits After March 2020 Crash appeared first on Coingape.

Under this ban, no banks or online payments channels are permitted to offer clients any services involving cryptocurrency.

The post China Bans Financial Institutions From Participating in Crypto Services appeared first on BeInCrypto.

TL;DR breakdown China reminds investors of crypto ban Why China is right on crypto ban The People’s Bank of China (PBOC) has reiterated its crypto ban today, Tuesday after sharing a warning by its associates on its official WeChat group. The National Internet Finance Association of China, the China Banking Association, and the Payment and […]

Three associates of the People’s Bank of China (PBOC), the Chinese central bank has issued a document prohibiting institutions and businesses from engaging in any form of virtual currency transactions. The latest set of regulatory paperwork ban payment service providers and financial institutions from offering any form of service involving cryptocurrency transactions. The three associate

The post Central Bank of China Bans Crypto Trading For Institutions and Businesses appeared first on Coingape.

As cryptocurrencies have gained popularity and traction, some fear their decentralized, unregulated nature could have catastrophic consequences for the global financial system. This has led to calls for central banks to issue their own digital currencies (CBDCs).

The post The Rise of CBDC — What These Digital Currencies Could Look Like appeared first on BeInCrypto.

Three associations outlined four issues related to crypto investment beginning with a call for its members to understand the nature of virtual currencies.

A broader consensus on strengthening the supervision of Bitcoin and crypto transactions is being formed, as per an opinion piece in the China Securities Journal (CS) on Sunday.

The post China Securities Journal sounds alarm on financial risks related to Bitcoin and crypto appeared first on CryptoSlate.

After the successful proceeding of the first phase of the testing of the Digital Yuan, Hong Kong is in talks with China to stretch its cross-border testing.

Implementation of the digital yuan could significantly reduce the cost of cross-border transactions.

The first phase of tests for use of the digital yuan across borders has been successful, the Hong Kong Monetary Authority has said.

Banking has evolved at a rapid pace over the course of the 21st Century so far. The days where you would find yourself...