China is taking a step towards banning cryptocurrencies.
The Chinese Central Bank announced on Wednesday that it will ban crypto trading and trading of digital tokens that are not backed by government-backed securities.
Cryptocurrencies have skyrocketed in popularity over the past two years, particularly in China, which has the world’s second-largest economy and a population of roughly 10 billion people.
The yuan is the world reserve currency, and its value is tied to the value of the Chinese yuan, the country’s currency.
China’s central bank announced on February 1 that it would start banning digital currencies such as Bitcoin and Ethereum, a token that is created using an algorithm.
It also has a number of other rules related to the use of cryptocurrencies, including the countrywide ban on online gambling and a ban on ICOs.
However, the central bank has been reluctant to regulate cryptocurrencies in its home country, fearing that the regulations could be circumvented by foreign entities.
Bitcoin is a digital currency that is traded on the internet and has been gaining popularity in China.
The value of Bitcoin is linked to the price of a basket of other currencies, including those of the US dollar and the euro.
The price of Bitcoin has increased rapidly in recent years and is now trading at $5,400 per coin.
Bitcoin has become the darling of Chinese investors, with some investing in the currency as an investment.
China has the third-largest population in the world, with around 7 billion people, according to the UN.
It has one of the highest per capita consumption levels in the developed world and is considered one of Asia’s most innovative economies.