PBOC Department Head: Domestic Virtual Currency Traders and Domestic Affiliated Entities of Overseas Virtual Currency Issuance and Trading Platforms Will Be the Focus of Investigat

November 6: A relevant department head of the People's Bank of China (PBOC) stated that virtual currencies cannot effectively meet requirements on customer identification, anti-money laundering and other aspects at this stage, and can easily trigger market speculation and hype. Next, the PBOC will join hands with relevant departments and local governments to focus on domestic virtual currency traders and domestic affiliated entities of overseas virtual currency issuance and trading platforms, continue to crack down on virtual currency-related business activities within China, and safeguard economic and financial order.