Photo: BloombergBeijing: China plans to stamp out all remaining cryptocurrency trading in the country by blocking access to overseas-based websites and removing related applications from app stores. After launching a campaign last year, authorities eliminated most cryptocurrency trading in the country. Financial regulators will work with telecommunications regulators to shut down websites and mobile apps offering trading in illegal initial coin offerings, the report said. Regulators will also take unspecified action against websites of foreign and domestic cryptocurrency trading platforms. The People’s Bank of China has also ordered operators of payment systems to launch a “rectification” campaign and ensure their tools were not being used to funnel money into cryptocurrency trading.

Source: Mint February 05, 2018 09:22 UTC