The Business Administration Department of the People's Bank of China (PBoC) has reportedly issued a document today requiring payment providers in Beijing to stop facilitating cryptocurrency trading activities.
The news, first reported by Securities Times, a state-owned media outlet launched by the Communism Party mouthpiece the People's Daily, said the document requires payment companies to start internal investigations to ascertain if cryptocurrency trading activities are being conducted via their payment services. If so, they should subsequently cease servicing those accounts, the document states.
Thoughts?