China’s central bank says all cryptocurrency-related activities are illegal, vows harsh crackdown


In this photo illustration, the Bitcoin logo is seen on a mobile device with People’s Republic of China flag in the background. (Photo Illustration by t/SOPA Images/LightRocket via Getty Images)

Budrul Chukrut | SOPA Images | LightRocket | Getty Images

China’s central bank renewed its tough talk on bitcoin Friday, calling all digital currency activities illegal and vowing to crack down on the market.

“Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies,” the People’s Bank of China said in a Q&A statement on its website Friday.



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