PBoC Official: Domestic Virtual Currency Traders and Domestic Affiliates of Overseas Platforms to Be Investigation Focus

PANews, November 6 - A responsible official from the relevant department of the People's Bank of China stated that virtual currencies currently cannot effectively meet requirements for customer identification and anti-money laundering, and are prone to triggering market speculation and hype. Next, the People's Bank of China, together with relevant departments and local governments, will continue to crack down on virtual currency-related business activities within the country, focusing on domestic virtual currency traders and domestic affiliated entities of overseas virtual currency issuance and trading platforms, to maintain economic and financial order.