[Dismas]

China has some interesting priorities. A couple of weeks ago they banned "effeminate men", now they've declared cryptocurrency illegal.

The Chinese Communist Party has certainly been keeping itself busy of late, and particularly concerning new technologies. The country is one of the world's largest cryptocurrency markets, but the government has long been suspicious of bitcoin and its ilk, and officially banned trading back in 2019 (though it was able to continue through the use of foreign exchanges). Now the CCP has gone a step further: the People's Bank of China today announced that all cryptocurrency transactions are illegal.

The translated statement is short and not-so-sweet: "Virtual currency-related business activities are illegal financial activities [and] seriously endangers the safety of people's assets." It makes explicit that engaging in such activities is now a crime and will be prosecuted, and that foreign websites offering such services to Chinese citizens are also illegal.

Read More: https://www.pcgamer.com/china-declares-c...s-illegal/