China ministry warns cryptocurrency transactions are not anonymous
China's Ministry of State Security issued a warning that virtual currencies facilitate money laundering, cyberattacks and serve as "accomplices" in espionage, and described the idea of anonymous crypto transactions as an "illusion" because blockchains retain records and exchanges link identities to fiat. The agency reiterated that crypto businesses are illegal in mainland China. The notice follows a February joint PBOC-led statement by eight agencies that tightened oversight and extended clampdown to tokenisation of real-world assets, and it builds on prior bans on ICOs, exchanges and bitcoin mining, potentially reinforcing enforcement and cross-border caution.
China says crypto transactions are traceable and crypto businesses are illegal
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China banned initial coin offerings and exchanges in 2017 and banned bitcoin mining in…
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