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China “Tightens the Screws” on Crypto

Loeb & Loeb partner Benjamin Qiu is quoted on China tightening the screws on tokens and cryptocurrencies to contain what it sees as “a competitor to the renminbi and a payment tool, or as unregulated securities, for the black market. This article discusses three industry bodies in China announcing a ban on financial institutions and payment companies from providing services related to cryptocurrency transactions.

Click here to read the article on Global Banking Regulation Review’s website.