Chinese banks to cut funding channels for crypto OTC desks

In a further show of its anti-crypto stance, The People’s Bank of China PBoC, issued a statement today, saying that after a meeting with domestic banks and other financial providers, it has promulgated that all funding channels for crypto OTC desks should be severed.  The recent meeting of banks and mobile service providers, summoned by the PBoC, was to look at the speculative trading activities around crypto.