China to Further Crackdown on Crypto, Explores Developing its Own Coin

[kreslik.news]

The Chinese government has continued its crackdown on cryptocurrencies. The latest pledge for action comes from the country’s Central Bank Deputy Governor Fan Yifei. He has outlined the government’s conviction to continue its efforts on stopping the use of cryptocurrencies in China in a recent speech.

Fan voiced the intentions of the Chinese Central Bank to stop the use and the distribution of digital currencies in the country. The effort is part of the new regulatory role of the institution which was announced in the aftermath of the latest Chinese communist party congress.

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