Chinese central bank doubles down on crypto crackdown as speculation resurfaces – DL News
- Crypto transactions ‘remain illegal’ in China, say top officials.
- People’s Bank of China’s decision to reveal high-level crypto talks with ministries ‘is a first.’
- Experts say Beijing won’t welcome Bitcoin miners back.
China’s central bank has quashed talk of relaxing its sweeping crackdown on crypto amid calls for Beijing to let Bitcoin miners return.
The People’s Bank of China, also known as the PBoC, summoned representatives from government ministries, internet regulators, and the judiciary to make a fresh statement on crypto regulation, the Chinese newspaper Caixin reported.
“Cryptocurrencies do not have the same legal status as legal tender,” said the PBoC. “They do not have legal tender status. And they should…
