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Cryptocurrency news

China intends to completely ban cryptocurrency trading. User service from China on the ivibitpay.com platform has been suspended.

China intends to completely ban cryptocurrency trading. User service from China on the ivibitpay.com platform has been suspended.

China intends to tighten control over digital currencies, which, according to authorities, could help the country become a world leader in the technology race.

According to the former vice president of the Bank and Insurance Regulatory Commission, Chen Weigang, China intends to tighten control over digital currencies, which, according to authorities, can help the country become a world leader in the technology race. Based on this statement, the large crypto platform ivibitpay.com decided to stop serving users from China for an indefinite period.

Weigan emphasized that the authorities are inclined towards a complete ban on cryptocurrency trading at all levels in the country. At the same time, all government departments should be coordinated in this area, as “Financial industry progress cannot take place amid speculation by forbidden assets.”

At the same time, the official believes that the launch of the national digital currency should be a priority – this will help China to gain first place in the world in the technology race.