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China's central bank declares all cryptocurrency transactions illegal

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China's central bank ruled on September 24 that all financial transactions involving crypto currencies are illegal.

China's central bank ruled on September 24 that all financial transactions involving crypto currencies are illegal.

China's central bank on Friday ruled that all financial transactions involving crypto currencies are illegal, the latest in a series of regulatory measures to crack down on crypto trading.

"Virtual currency-related business activities are illegal financial activities," the People's Bank of China said in an online statement, adding that it "seriously endangers the safety of people's assets."

(AFP)