China declares all crypto-related transactions illegal The biggest crackdown on digital currency yet China's central bank has declared all cryptocurrency-related transactions are now illegal and stated that foreign exchanges are banned from providing services to Chinese residents. If you actually know what crypto is and you know how to trade it, then you could be in China's eyesight for future investigation. Bitcoin, Ether, and other cryptocurrencies "are not legal and should not and cannot be used as currency in the market," the People's Bank of China said in a statement on Friday, reports Insider . China's central bank put explained...