Anti-Financial Crime & Financial Crime Compliance
Leadership | Insight | Network

AML, Asia-Pacific, Compliance, Crypto

China strengthens ban on private cryptos by declaring all foreign exchanges ‘illegal’

By Dan Byrne for AMLi

China’s tough stance on cryptocurrency has reached another milestone this week, with a declaration that all activities related to cryptocurrency are “illegal.”

People’s Bank of China moved to expand its already tight hold on digital coins, by specifically forbidding any foreign crypto exchanges from doing business on PRC soil.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!