The meeting also stressed lowering credit risks and strengthening regulations on financial activities of platform enterprises.
China has enhanced its supervision of virtual currencies to further fend off financial risks and anticipate any speculation in virtual currency businesses. Seen as tightened regulatory scrutiny, the new statement sets the targets for supervision expanding from bitcoin trading to mining. This is deemed as conducive to crackdowns on the virtual currency transaction hype.
Financial institution members, payment institutions and other agencies shall not use virtual currency to price their products or services. Also, online enterprises shall not provide services for virtual currency-related business activities, according to the announcement.
(Print Edition Title: Virtual Currency)