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China to punish cryptocurrency exchange with up to 10 years in prison

News Snapshot:

New blow to the cryptocurrency sector in China. The country’s Supreme People’s Court has ruled that cryptocurrency fundraising is now a criminal offense in the Asian giant. The sanction, details the statement issued by the court, will vary depending on the value of the amount collected. This measure comes five months after the Chinese central bank declared illegal all activities related to cryptocurrencies, from transactions between companies and individuals to the advertising of these, as well as the issuance and commercialization of tokens and the activity of mining farms. . The tightening of the current legislation, which is one of…

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