New China FUD is just fake news from Reuters. A ban already existed. Chinese association is just re-iterating their stance.

China has already banned financial institutions from Bitcoin/crypto years ago. Now their industry association is just re-iterating their stance and that there is no change to the status quo.

Yet fake news websites like Reuters spew up stories that completely miss mentioning the status quo i.e. the financial institutions are already banned from operating in the crypto space.

People are now sharing the Reuters article, and many other financial websites across the world have now posted new articles claiming China has just banned crypto , when this is just a big lie.

The statement just reinforces what China did years ago. The Chinese banking association statement also says "Cryptocurrencies are not supported by real value, their prices are easily manipulated, and trading contracts are not protected by Chinese law" – something they have maintained for a long time.

This is not a new ban.

Shame, Reuters.