China’s crackdown on cryptocurrencies doesn’t seem to see an end as the Central Bank deemed all crypto transactions illegal at the start of the year. The set of crypto crackdown guidelines issued just recently were said to be the most comprehensive one as it cracked down on every aspect of crypto be it crypto mining or trading. However, the government has no plans to stop as recent insider news suggest that the Chinese judiciary is now looking to formulate laws to convict and sentence crypto-related activities.
Earlier, the government had only warned against crypto use as it is not protected by the law, however now it seems the Chinese government aims to make crypto-related activities a criminal offense that might attract jail time. Chinese Journalist Colin Wu reported that people close to the government in an interview to the local magazine revealed government plans of possible new laws around crypto offenses.
The Chinese government defines all commercial activities involving cry
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