Reports: People's Bank Of China "PBoC" Orders Payment Service Providers To Stop Providing Services To Currency Traders

 reported that the Department of Business Administration at the People 's Bank of China " PBoC " issued a document today, asking the payment service providers in Beijing to stop facilitating digital currency trading activities.The newspaper "The Securities Times " - a state-owned newspaper called by the Communist Party to speak on behalf of People's Daily - said that the document requires payment companies to initiate internal investigations to ensure that digital currency trading activities are conducted through their payment services , , It should stop serving those accounts. Informed sources said that the document also required these companies to report on their investigations and applications by 20 January.Based on the sincerity and seriousness of the document, it may be part of plans to implement a bigger ban on China's digital currency platforms, which was reportedly sought by deputy governor of the People's Bank of China, Ban Jong-sheng . The newspaper " The Economic Observer " said it had verified the authenticity of the document through another source close to the central bank.According to the Securities Times , the document requires payment services within its jurisdiction to comply with its request. While the rule may appear to apply only to registered services in Beijing, the document requires companies to expand investigations across their branches, but the immediate impact of the document on China's remaining digital platform activity remains unclear. 

 
After banning the initial currency offers by the Chinese People 's Bank "PBoC" in the past year, it has transformed digital currency trading platforms in China activities to trading " the OTC)" Over-The-counter All ) - which is the trading that is through a network of traders rather than trading Central .mthal, the two platforms   OKCoin  and Huobi  , - formerly the largest trading platforms "order book" in China - which provide platforms now enable Chinese residents to advertise purchase and sales orders, where they are separated from the traditional digital currency transactions currency transactions. In a separate context, trading partners will send the Chinese yuan through payment tools such as bank transfers, WeChat Pay and AliPay , which will look like any normal transactions between two people.Other over-the-counter platforms are also present through the " WeChat " and " Telegram " messaging giant . The Telegram data center is outside the jurisdiction of the Chinese government, making it a popular place for OTC trading among Chinese investors.