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Reuters
Reuters
Business

China central bank will launch crackdown on virtual currencies

A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, April 3, 2014. REUTERS/Petar Kujundzic

BEIJING (Reuters) - China's central bank will launch a crackdown on all types of virtual currencies this year, a vice governor of the central bank said on Thursday.

The central bank will also push forward the research and development of its own digital currency this year, Fan Yifei said in a statement posted on the website of the People's Bank of China (PBOC).

(Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

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