China begins its toughest measures on crypto
The largest banks in China have agreed to follow the central bank’s new policy to ensure its clients are not engaged in crypto transactions.
According to the Chinese central bank, all banks and payment institutions must not provide account opening or registration for digital asset-related activities.
The People’s Bank of China (PBOC) stated that banks must not provide services and products, including trading, clearing and settlement for digital asset-related transactions.
The country’s large financial institutions were told to identify cryptocurrency exchanges’ and over-the-counter dealers’ capital accounts and cut off the payment link for transaction funds as soon as possible.
All the indications that come from China can show us a bullish trend on cryptos .