People’s Bank of China Issues New Anti-Crypto Directive to Banks

Azeez Mustapha



Select a Plan


 1-month subscription



 3-month subscription



 6-month subscription



 lifetime subscription



 Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored


Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

The People’s Bank of China has just issued a notice to several financial institutions regarding the facilitation of cryptocurrency transactions.

The apex bank noted that it discussed the cryptocurrency issue with financial institutions like the Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank, Industrial Bank, and the Alipay (China) Network.

The PBoC argued that “virtual currency trading activities disrupt the normal economic and financial order, breed the risks of illegal cross-border transfer of assets, money laundering and other illegal and criminal activities, and seriously infringe the people’s property safety.”

The notice issued by the PBoC also detailed that payment institutions and banks across China must execute strict guidelines on “Bitcoin risks,” “token issuance financing risks,” and other recommended regulatory requirements.

The central bank added that:

“Financial institutions must not provide account opening, registration, and registration for related activities.”

Shortly after the notice got passed around, China’s Postal Savings Bank released a statement adhering to the new order, noting that:

“According to relevant regulations of the People’s Bank of China, no institution or individual may use our bank’s accounts, products, services, and channels to conduct token issuance financing and ‘virtual currency’ transactions.”

The Postal Savings Bank also encouraged customers to report any crypto activities they observed.

People’s Bank of China Announcement Triggers Crash in Bitcoin

The latest PBoC undertaking closely follows the June 20 mandate from Sichuan officials banning BTC mining activities in the region.

Since BTC mining got banned in five of the largest provinces in China, Bitcoin’s hashrate has dipped to 100 EH/s.

Renowned Chinese cryptocurrency journalist Colin ‘Wu’ Blockchain commented on the latest development, tweeting about the notice on Monday and noting that two other financial institutions have released statements relating to the subject at hand. Colin said that:

“The Agricultural Bank of China once again released the deleted webpage, and Alipay also issued a related statement.”

BTC price suffered an immediate crash following the PBoC announcement on Monday. The benchmark cryptocurrency fell to a new twelve-day low at $31,700 earlier today but has since rebounded to the mid-$32,000 area.


You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *