Categories: Market

BTC was disposed of after the Agricultural Bank of China issued, removed, and reissued the Bitcoin ban notice

The Agricultural Bank of China (ABC) has a Bitcoin (BTC) Prohibition notice, don’t reuse its services for crypto-related trades and activities, just eliminate within seconds, pause a couple of hours and then declared forbid again.

ABC is just one of the “Four Big Banks” in the country, which is regulated by the state and in possession by state-owned investment firm Central Huijin (40.42%), Ministry of Finance (39.21%), National Social Insurance Fund (3.02%) and China Securities Finance (1.92%).

Table tennis

The lender has issued a statement that it won’t conduct cryptocurrency trades and related activities, saying that “customer accounts involved in such activities will be closed and relationships with customers will be terminated”.

The statement was deleted only minutes later, but there was still news ancient Monday and after the 10% Bitcoin (BTC) price drop it attracted no support.

A few hours after, a to describe The ban on utilizing its solutions for Bitcoin and additional cryptocurrency trades has been made public by the bank. “Following the recent request for advice and guidance from the relevant departments of the People’s Bank of China, our bank will continue to crack down on virtual currency transactions,” it stated.

Origin of the ban

The ABC bounce notice obtained its final context when the People’s Bank of China (PBC) was released to describe stated the domestic banks and payment system Alipay have been subpoenaed by central bank authorities and instructed not to provide services associated with cryptocurrency transactions.

In addition to the ban on supplying crypto-related goods and services, companies are instructed to reverse payment stations for crypto exchanges and over-the-counter systems.

PBC blames cryptocurrencies for interrupting the normal order of financial activity and making room for prohibited cross-border trades.

Together with the ban on “cryptocurrency-related activities”, the lenders surveyed were instructed to “carefully examine and monitor” their clients’ transactions for potential involvement in cryptocurrencies.

Announcements and announcements resurfaced Monday after a weekend truce on the Bitcoin Error speed Immersion after mining on Friday Ban in Sichuan Province.

.

.

CoinX

Recent Posts

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

47 mins ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

4 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

7 hours ago

Step into BlockDAG’s Presale Frenzy This November: Secure a Massive 100% Bonus with BDAG100!

November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…

9 hours ago

This website uses cookies.