Asian central banks crack down on cryptocurrency

The PBoC has reportedly told payment services not to support cryptocurrency trading

Central banks across Asia are cracking down on cryptocurrencies, in moves that appear to have encouraged sharp drops in the prices of the virtual assets this week.

The People’s Bank of China has reportedly asked payment institutions to stop their channels being used for cryptocurrency transactions, according to a notice published on January 17 by local media sources. The Chinese-language notice was distributed to payment institutions directly and was not published on the central bank’s website

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: