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Sign up for Monthly E-newsletter. China's crypto crackdown comes as Beijing is looking to fulfill its climate targets. The country is the world's biggest carbon emitter and has set out to become carbon neutral by The PBOC is also working on its own digital currency. China is seen as a leading contender in the race toward central bank-issued digital currencies, having tried out a virtual version of the yuan in several regions.
Skip Navigation. Markets Pre-Markets U. Key Points. The People's Bank of China said services offering trading, order matching, token issuance and derivatives for virtual currencies are strictly prohibited.
Overseas cryptocurrency exchanges providing services in mainland China are also illegal, the PBOC said. Earlier this year, Beijing announced a crackdown on crypto mining.
In this article. In this photo illustration, the Bitcoin logo is seen on a mobile device with People's Republic of China flag in the background.
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