The People’s Bank of China announced that it has completed the rectification of digital currency transactions and transferred it to routine supervision.
The court in Shandong, China, has ruled that investing in digital currencies is not protected by the constitution in an appeal ruling that saw a man lose $10,000.
The Shenzhen branch of the central bank published plans stating that it would bring some 11 companies into line with regulation, according to reports.
Authorities from the People's Bank of China recently issued a notice warning local institutions not to provide digital currency-related companies' services.
The BTC token price—and more importantly, the network's hash rate—has continued to plummet following a series of Chinese government actions.
China’s central bank has issued a statement ordering commercial banks to cut off all digital currency-related activities, including over-the-counter digital currency trading merchants.
The three groups believe that digital currencies are disrupting China’s economic order and urged traders to be cautious when investing in digital currencies, which “are not real currencies.”
JD.com confirmed recently that aside from the employees, it has also been paying off some of its business partners with the digital currency.
Li Bo, the deputy PBoC governor, said the apex bank is satisfied with the current digital currency regulations in China, but would seek to enforce even stricter rules for stablecoins.
In its latest test, the PBoC has partnered with the Industrial and Commercial Bank of China’s Haikou branch and the Sansha city municipal government.
The controllable anonymity will protect the central bank digital currency against criminal use and ensure the bank can track all payments the users make, according to a central bank official.