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# China says all cryptocurrency-related transactions are illegal and must be banned
- URL: https://werd.io/china-says-all-cryptocurrency-related-transactions-are-illegal-and-must-be/
- Published: 2021-09-24T14:56:20.000Z
- Updated: 2021-09-24T14:56:20.000Z
- Author: Ben Werdmuller
- Tags: #Import 2025-06-13 09:24

"The central bank said cryptocurrencies, including Bitcoin and Tether, cannot be circulated in the market as they are not fiat currency. The surge in usage of cryptocurrencies has disrupted “economic and financial order,” and prompted a proliferation of “money laundering, illegal fund-raising, fraud, pyramid schemes and other illegal and criminal activities,” it said." Cue a minor crypto crash. But honestly: I expect that other countries may follow and create a dividing line between places that allow these currencies and those that don't.

\[[Link](https://techcrunch.com/2021/09/24/china-says-all-cryptocurrency-related-transactions-are-illegal/)\]