Further restrictions of the People's Bank of China

The Department of Business Management of the People's Bank of China today issued a document addressed to payment service providers operating in Beijing, in which it calls them to immediately cease cooperation with all entities related to the trading of cryptocurrencies in this country - says the Chinese Securities Times.

As we read further, this document also orders the abovementioned suppliers conduct internal investigations to determine whether or not such activity takes place. If so, it will be completed before January 20 this year. Up to this day, payment service providers also have time to submit relevant reports on the already mentioned investigations and actions taken.

The credibility of the document is further confirmed by the Chinese Economic Observer, citing its own sources, closely related to the Central Bank.

Observer also emphasizes that Beijing payment service providers are required to carry out the same type of investigations also in their external branches outside the capital.

Step by step, China wants to completely eliminate bitcoin trade in the country.