China moves to block Bitcoin as digital currency gains credence

China flag

The People's Bank of China (PBoC) has moved to outlaw the use of the electronic, digital currency, Bitcoin, as a means of exchange in China citing concerns over consumer protection and the potential for money laundering.

In a statement today on its website, the Chinese central bank said it had on Tuesday issued a notice against the use of Bitcoin, in conjunction with a number of other regulatory bodies in the country.

In its communiqué today, the bank said Bitcoin does not fit the definition

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 [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

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: