Chinese regulators have tightened the restrictions that ban companies from providing cryptocurrency services.
The new rules expanded the scope of prohibited services
China has banned financial institutions as well as payment companies from providing services that are related to cryptocurrency transactions. The government even went so far as to warn investors against speculative crypto trading.
This is yet another attempt from China to stop the digital trading market, and under the ban, institutions must not offer any services that involve cryptocurrencies, and this includes the registration, trading, clearing, and settlement.
The consequences of the ‘ban’
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