China Authority Crackdown on Virtual Currency, Issue Warning to Financial Institutions & Businesses
8th July 2021 | Hong Kong
China financial authority continues its crackdown on virtual currency, issuing warning to financial institutions and businesses not to directly or indirectly provide virtual currency-related services to customers, and consumers to not to participate in the hype of virtual currency (Bitcoin, Cryptocurrency etc). The statement issued on 6th of July 2021 (Tuesday), also ordered a Chinese company Beijing Tongdao Cultural Development to cancel its software services for virtual currency transactions. View: Statement
” China Authority Crackdown on Virtual Currency, Issue Warning to Financial Institutions & Businesses “
Official Statement
Risk reminder on preventing virtual currency trading activities by Business Management Department of the People’s Bank of China
In order to implement the decision and deployment of the Party Central Committee and the State Council on cracking down on virtual currency transactions, prevent and control the risks of virtual currency transactions, and protect the people’s property safety, the Beijing Local Financial Supervision and Administration Bureau has recently joined forces with the Business Management Department of the People’s Bank of China and Huairou District Government Relevant departments have cleaned up and rectified Beijing Tongdao Cultural Development Co., Ltd., which was suspected of providing software services for virtual currency transactions, and ordered the company to cancel. The official website has been suspended.
Here, we solemnly warn relevant institutions within our jurisdiction not to provide business premises, commercial display, marketing, and paid diversion services for virtual currency-related business activities. Financial institutions and payment institutions within the jurisdiction shall not directly or indirectly provide virtual currency-related services to customers.
At the same time, it reminds consumers that they should enhance their risk awareness and establish correct investment concepts. Do not participate in virtual currency trading hype activities, do not blindly follow the trend of virtual currency-related speculation, and beware of personal property and rights damage. Personal bank accounts should be cherished and not used for virtual currency account recharge and withdrawal, purchase and sale-related transaction recharge codes, and transfer of relevant transaction funds, etc., to prevent illegal use and personal information leakage. Promptly report clues about violations of laws and regulations related to virtual currency transactions, and report to the public security organs in time for suspected crimes.
Beijing Local Financial Supervision and Administration Bureau
People’s Bank of China Business Management Department
July 6, 2021
关于防范虚拟货币交易活动的风险提示
中国人民银行营业管理部
为贯彻落实党中央、国务院关于打击虚拟货币交易的决策部署，防控虚拟货币交易炒作风险，保护人民群众财产安全，近期，北京市地方金融监督管理局联合中国人民银行营业管理部、怀柔区政府相关部门，对涉嫌为虚拟货币交易提供软件服务的北京取道文化发展有限公司予以清理整顿，责令该公司注销，官方网站已停用。
在此，我们郑重警告辖内相关机构，不得为虚拟货币相关业务活动提供经营场所、商业展示、营销宣传、付费导流等服务。辖内金融机构、支付机构不得直接或间接为客户提供虚拟货币相关服务。
同时，提醒广大消费者，应增强风险意识，树立正确的投资理念。不参与虚拟货币交易炒作活动，不盲目跟风虚拟货币相关投机行为，谨防个人财产及权益受损。要珍惜个人银行账户，不用于虚拟货币账户充值和提现、购买和销售相关交易充值码以及划转相关交易资金等活动，防止违法使用和个人信息泄露。及时举报虚拟货币交易相关违法违规线索，对其中涉嫌违法犯罪的，应及时向公安机关报案。
北京市地方金融监督管理局
人民银行营业管理部
2021年7月6日
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