Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Postal Savings Bank, Industrial Bank and Alipay have issued official announcements, stating that it is forbidden to use the services of various banks and institutions to conduct virtual currency transactions.

Today, the People’s Bank of China interviewed some banks and payment institutions on the issue of virtual currency transaction speculation. The statement stated that in order to thoroughly implement the relevant decisions and deployments of the Party Central Committee and the State Council, implement the spirit of the 51st Plenary Meeting of the Financial Committee of the State Council, and crack down on Bitcoin, etc. Virtual currency transaction speculation, protect the people’s property safety, and maintain financial security and stability. Recently, the relevant departments of the People’s Bank of China have talked with the Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, and China Post regarding the provision of services by banks and payment institutions for virtual currency transaction speculation. Some banks and payment institutions such as China Reserve Bank, Industrial Bank and Alipay (China) Network Technology Co., Ltd.

The relevant departments of the People’s Bank of China pointed out that virtual currency trading activities disrupt the normal economic and financial order, breed the risks of illegal cross-border transfer of assets, money laundering and other illegal and criminal activities, and seriously infringe the people’s property safety. All banks and payment institutions must strictly implement the “Notice on Preventing Bitcoin Risks” and “Announcement on Preventing Token Issuance Financing Risks” and other regulatory requirements, and earnestly fulfill their customer identification obligations, and must not provide account opening, registration, and registration for related activities. Products or services such as trading, clearing, and settlement. Institutions must comprehensively investigate and identify virtual currency exchanges and over-the-counter dealers’ capital accounts, and cut off transaction funds payment links in a timely manner; they must analyze the capital transaction characteristics of virtual currency trading hype activities, increase technical input, improve abnormal transaction monitoring models, and ensure that Improve monitoring and identification capabilities; improve internal working mechanisms, clarify the division of labor, compact responsibilities, and ensure that relevant monitoring and handling measures are in place.

Participating organizations stated that they will attach great importance to this work, and in accordance with the relevant requirements of the People’s Bank of China, they will not carry out or participate in virtual currency-related business activities, further increase the investigation and disposal efforts, and adopt strict measures to resolutely cut off virtual currency transaction hype activities. Fund payment link.

Source: The People’s Bank of China interviewed some banks and payment institutions on the issue of virtual currency transaction hype (pbc.gov.cn)

央行就虚拟货币交易炒作问题约谈后各银行及支付机构声明一览

After the announcement of the central bank statement, many banks and payment institutions have issued official announcements, stating that the use of banking and institutional services to conduct virtual currency transactions is prohibited. The statements that have been announced are summarized as follows:

Agricultural Bank of China

The Agricultural Bank of China stated in the “Statement on Prohibiting the Use of Our Bank’s Services for Bitcoin and Other Virtual Currency Transactions” that the bank will resolutely not carry out or participate in any virtual currency-related business activities, and prohibit access to customers involved in virtual currency transactions , And will intensify investigation and monitoring of customer and capital transactions. Once relevant behaviors are discovered, measures such as suspension of account transactions and termination of customer relationships will be taken immediately, and relevant authorities will be reported in a timely manner.

Source: Statement on prohibiting the use of our services for Bitcoin and other virtual currency transactions_Agricultural Bank of China (abchina.com)

央行就虚拟货币交易炒作问题约谈后各银行及支付机构声明一览

China Construction Bank

China Construction Bank stated in the “Announcement on Prohibiting the Use of Our Bank’s Services for Virtual Currency Transactions” that it will resolutely not carry out or participate in any virtual currency-related business activities, and will resolutely not provide account opening, registration, and transaction for virtual currencies. , Clearing, settlement and other financial products and services. No institution or individual may use the account opened at the bank for virtual currency transaction fund recharge, cash withdrawal, purchase or sales related transaction recharge codes and other activities, and shall not transfer the virtual currency transaction related to the account opened at the bank Of funds.

Source: Latest Announcement Personal Client China Construction Bank website (ccb.com)

央行就虚拟货币交易炒作问题约谈后各银行及支付机构声明一览

ICBC

The Industrial and Commercial Bank of China stated in the “Statement on Prohibiting the Use of Our Bank’s Services to Conduct Virtual Currency Transactions” that no institution or individual may use the bank’s accounts, products, services, and channels to conduct token issuance financing and “virtual currency” transactions. The bank will continue to strengthen monitoring, once discovered, it has the right to take control measures such as suspension of relevant account transactions and account cancellation, and report relevant information to relevant departments. The public should be highly alert to the risks of token issuance financing and “virtual currency” transactions, improve risk prevention awareness and identification capabilities, and beware of being deceived. If you find the above-mentioned related behavior, you can report to the bank.

Source: Statement on prohibiting the use of our services to conduct virtual currency transactions-important announcement-Industrial and Commercial Bank of China China website (icbc.com.cn)

央行就虚拟货币交易炒作问题约谈后各银行及支付机构声明一览

Alipay

Alipay stated in the “Statement on Prohibiting the Use of Alipay to Conduct Bitcoin and Other Virtual Currency Transactions” that it will closely monitor and investigate the design of virtual currency transactions, establish an inspection system for key websites and accounts, and block them as soon as they are discovered. Strengthen the risk monitoring of payment transactions, prohibit virtual currency transfer transactions, deploy risk algorithm models, strengthen monitoring of abnormal transactions, and provide risk reminders for suspected payers and limit rights for payees. Strengthen merchant management, prohibit access to virtual currency merchants, and continue to monitor the risks of contracted merchants. Once merchants are found to be engaged in virtual currency transactions, they will be blacklisted and subsequent cooperation is prohibited.

央行就虚拟货币交易炒作问题约谈后各银行及支付机构声明一览

China Postal Savings Bank

China Postal Savings Bank stated in the “Announcement on Prohibiting the Use of Our Bank’s Accounts, Products, Services, and Channels for “Virtual Currency”-related Business Activities” that no institution or individual may use the bank’s accounts, products, services, and channels to make tokens Issuance financing and “virtual currency” transactions. The bank will continue to strengthen risk monitoring in the payment transaction link. Once the above-mentioned relevant behavior is discovered, the bank has the right to take control measures such as suspension of account transactions and account cancellation, and report relevant information to the supervisory authority.

Source: Announcement on prohibiting the use of our bank accounts, products, services, and channels for “virtual currency” related business activities (psbc.com)

央行就虚拟货币交易炒作问题约谈后各银行及支付机构声明一览

Industrial Bank

The Industrial Bank stated in the “Statement on Prohibiting the Use of Bank Accounts to Participate in Virtual Currency Transactions” that the bank will resolutely implement the requirements of the regulatory authorities and prohibit directly or indirectly providing customers with services related to virtual currencies. No institution or individual may use the account opened with the bank for virtual currency transaction fund recharge and cash withdrawal, purchase and sales related transaction recharge codes and other activities, and shall not transfer relevant transaction funds through the bank account. The bank will further strengthen business management, continue to do a good job in customer identification and customer risk classification, use innovative technology such as big data to strengthen the monitoring of virtual currency transaction funds, and strengthen the crackdown on virtual currency-related transactions.

Source: Welcome to Industrial Bank (cib.com.cn)

央行就虚拟货币交易炒作问题约谈后各银行及支付机构声明一览

It is worth mentioning that as early as April 2014, China Merchants Bank, Huaxia Bank, Construction Bank, Bank of China, China Everbright Bank, Ping An Bank, Agricultural Bank, Shanghai Pudong Development Bank, China Guangfa Bank, Industrial Bank, Industrial and Commercial Bank of China, Bank of Communications, Minsheng Banks and many other banks have announced the prohibition of Bitcoin transactions, mostly on the grounds of “protecting the public’s property rights and interests and preventing money laundering risks.”