Chinas central bank is considering regulations that would significantly limit the use of third-party payment systems, including the payment arms of Alibaba Holding Group and Tencent Holdings Ltd. The Peoples Bank of China released draft rules last week to major banks for consultation, state media reported on Monday. They would also heavily limit spending by […]
Earlier this week, rumors emerged about the Peoples Bank of China (PBOC), the countrys central bank, planning to ban payment companies from working with Bitcoin exchanges. CoinDesk, which first reported on the story, was informed of the PBOCs intentions by Bobby Lee, the CEO of Bitcoin exchange BTC China. Now, a cyberattack has been launched […]
Chinese regulators have banned financial institutions from using Bitcoin, warning that the virtual currency could be used for illegal activities and speculation. Chinas central bank, the Peoples Bank of China, announced the decision in a statement released Thursday, though it stopped short of banning Bitcoin altogether. Individuals are still free to use the digital currency in […]
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