China Scrutinizes Banks, E-Payment Accounts to Stamp out ‎Cryptocurrency Trading

[kreslik.news]

China is escalating its clampdown on cryptocurrency trading in a bid ‎to finally quash the market completely. Beijing’s tougher stance will ‎develop to target overseas platforms that offer exchange-like services ‎to mainlanders and allow them to trade the digital assets class.‎

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Bloomberg ‎quoted unnamed sources on Wednesday afternoon as ‎saying the authorities would tighten regulations on its citizens’ ‎participation in overseas transactions. The new rules are intended to ‎‎“scrutinize the Chinese bank and online-payment accounts of ‎businesses and individuals suspected of facilitating trades on offshore ‎cryptocurrency venues,” the people ... (read more)