China bans crypto-currency: Why China declares all crypto-currency transactions illegal

“The ban is sweeping, absolute, comprehensive. It is not focused on some partial aspect,” says Jonathan Padilla, a co-founder and deputy director of Stanford University’s Future of Digital Currency Initiative, who has conducted field research at China’s central bank. “And it seems that top-level government officials are taking this on.” The authorities signing off on at least one of the two documents include the Ministry of Public Security, the Supreme People’s Court, and the Supreme People’s Procuratorate—suggesting that aggressive enforcement is likely.

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