March 29, 2018 / 9:45 AM / 6 months ago

China central bank will launch crackdown on virtual currencies

BEIJING (Reuters) - China’s central bank will launch a crackdown on all types of virtual currencies this year, a vice governor of the central bank said on Thursday.

A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, April 3, 2014. REUTERS/Petar Kujundzic

The central bank will also push forward the research and development of its own digital currency this year, Fan Yifei said in a statement posted on the website of the People’s Bank of China (PBOC).

Reporting by Beijing Monitoring Desk; Editing by Kim Coghill

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