China’s drastic closure on cryptocurrencies. In an official note, the central bank of Beijing points out that virtual currencies “do not have the same legal status as legal tender and cannot be distributed on the market as money”. In addition, the note from the People’s Bank of China, exchanges and transactions in virtual currency they are defined as “illegal financial activities and are strictly prohibited”. The document explains that virtual currencies “have spread by upsetting the economic and financial order, fueling money laundering, illegal fundraising, fraud, pyramid schemes and other illegal and criminal activities.” Ten Chinese government departments are cooperating…