China’s crypto ban extends to a wider range of crypto-based activities

In September 2021, the People’s Bank of China and nine other Chinese government authorities jointly released the Circular on Further Preventing and Handling the Risks Concerning Speculation in Virtual Currency Trading. Together with another official notice to stamp out cryptocurrency mining, cryptocurrency-based mining and other crypto-related activities in China are set to be tightly regulated. 

See this alert from our China fintech team which summarises some of the recent related regulatory developments and discusses several hot topics such as NFTs and China’s Digital Yuan Plan.