China may prohibit centralized trading of crypto-currencies

Beijing. January 17. Silkroadnews - China may ban centralized trading of crypto-currencies, CNBC reported.
Vice Governor of the People’s Bank of China Pan Gongsheng said the authorities plan to ban the centralized trading of virtual currencies as well as individuals and businesses that provide related services, such as, for example, online “wallet” service providers, the report said.
With this it is noted that at the meeting of Internet regulators and other policy makers, Pan Gongsheng said the government will continue to exert pressure on the virtual currency trade and prevent risks escalating in this market.
Last year Chinese regulatory authorities banned the initial coin offerings, exchange transactions with crypto-currencies, etc., but activity in the field of crypto-currency has continued in China via alternative channels.
The authorities also plan to block domestic and foreign websites and close mobile applications that provide centralized services for exchanging virtual currency for Chinese users, Pan said. He also called on local authorities to investigate the actions of persons providing services that facilitate moving the funds overseas.
“Pseudo-financial innovations that have no relationship with the real economy should not be supported,” the agency quoted Pan saying.