FX.co ★ China bans cryptocurrency trading

Last week, China announced that all cryptocurrency exchanges in the country are obliged to stop all transactions and notify users about the closure. The government also prohibited registration of new users.

By Wednesday, September 20, exchanges were required to notify users about the methods of funds withdrawal and ensure the protection of investors' interests.

Earlier, James Dimon, JP Morgan Chase Bank CEO, called the bitcoin “a fraud” and said that if any JPMorgan traders were trading the cryptocurrency, he “would fire them in a second”.

In early September, the Chinese authorities banned individuals and organizations from raising funds through ICO. The People’s Bank of China sees such a scheme as illegal financing.