China - "Bitcoin" and other crypto assets are totally banned - carry criminal punishment

Recently NHK News on-line reported the following:

中国 「ビットコイン」などの暗号資産を全面的に禁止 刑事罰も

2021年9月24日 22時43分

中国政府は24日、「ビットコイン」などの暗号資産について、経済の秩序を混乱させるとともに犯罪行為にも使われているなどとして、関連したサービスを違法行為として全面的に禁止すると発表しました。

中国の中央銀行である中国人民銀行や公安省などは24日、「ビットコイン」などの暗号資産について、情報の提供や決済など関連したサービスを全面的に禁止すると発表しました。

この中では、インターネットを通じた海外の交換会社での取り引きについても禁止すると明示しています。

さらに、その理由については、暗号資産は経済や金融の秩序を混乱させるもので、マネーロンダリングや詐欺などの犯罪行為に使われているとしていて、違反した場合は、違法な金融活動にあたるとして、刑事責任を追及するとしています。

中国では、暗号資産の取り引きはすでに規制されていましたが、今回、さらに取締りを徹底する姿勢を示しました。

この発表直後には「ビットコイン」の価格が一時、大幅に下落するなど、暗号資産の価格にも影響を与えています。

中国政府としては、電子的な法定通貨、「デジタル人民元」の発行に向けて実証実験を進める中で、政府の管理がきかない暗号資産を締め出すねらいもあるとみられます。

Translation

September 24, 2021 22:43

On the 24th, the Chinese government announced that cryptographic assets such as "Bitcoin" were being used for criminal acts as well as disrupting economic order, and said that it would completely ban its related services as illegal acts.

The People's Bank of China which was the central banks of China, together with the Ministry of Public Security, announced on the 24th that about crypto asset such as "Bitcoin", they would completely ban its related services such as providing information and payment.

It clearly stated that transactions with overseas exchange companies via the Internet were also prohibited.

Also, the reason was that crypto assets had disrupted the economic and financial order and were used for criminal acts such as money laundering and fraud. These were illegal financial activities and was supposed to criminal liability and would be pursued if violated.

In China, trading of crypto assets was already regulated, but this time, a stance of further crackdown was shown.

Immediately after this announcement, the price of "Bitcoin" dropped sharply for a while, which was also affecting the price of crypto assets.

The Chinese government seemed to aim at keeping out crypto assets that were out of the control of the government, and meanwhile was at a time in conducting concept-proving tests toward the issuance of the electronic legal tender "Digital RMB".

              So, the Chinese government announces that cryptographic assets such as "Bitcoin” are illegal and related financial activities will carry criminal liabilities.