The People’s Bank of China has held talks with a number of Chinese banks and financial institutions, urging them to thoroughly screen clients’ accounts for cryptocurrency transactions, and cut relevant payment links.
“Speculative trading in virtual currencies roils economic and financial order, spawns the risks of criminal activities such as illegal asset transfers and money laundering, and endangers people’s wealth,” the regulator said in a statement on Monday.
The PBOC’s meeting reportedly included the Agricultural Bank of China (AgBank), China Construction Bank (CCB), Industrial and Commercial Bank of China (ICBC), Postal Savings Bank of China, and online payment service Alipay.
