The Chinese language central financial institution guarantees robust crackdown on the cryptocurrency business


In this photo illustration, the Bitcoin logo can be seen on a mobile device with the flag of the People’s Republic of China in the background. (Photo illustration by t / SOPA Images / LightRocket via Getty Images)

Budrul Chukrut | SOPA pictures | LightRakete | Getty Images

China’s central bank renewed its tough talks on Bitcoin on Friday, calling all digital currency activity illegal and vowing to crack down on the market.

“Financial institutions and non-bank payment institutions cannot provide services for activities and operations related to virtual currency,” the People’s Bank of China said in a Q&A statement on its website on Friday.