China Guangfa Bank and Shanghai Pudong Development Bank (600000.SHA) became the latest targets of a campaign by China’s central bank to ban financial institutions from trading in bitcoins, Reuters reported. Both banks said customers would have their accounts suspended or closed down if they used them to buy or sell the crypto-currency. China’s central bank, the People’s bank of China, said in a report last week that the trading of bitcoins was largely speculative, unstable and risky. This comes after bank accounts of China’s two largest bitcoin exchanges at certain domestic banks were shut down in mid-April.
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