Official answer from National Internet Finance Association in China – NIFA

Okay so in last hour there was finally some answer from authority in China regarding cryptocurrency, to get some real answer beside the speculations. NIFA was established by People’s Bank of China. Article is another warning to all virtual currencies including Bitcoin. They are pointing out virtual currency is  “becoming a tool for money laundering, smuggling, illegal fund-raising, drug trafficking and other criminal activities.”

They are saying virtual currency trading is risky and has no legal grounds in China.



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