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China’s central bank says all cryptocurrency-related activities are illegal, vows harsh crackdown. China’s central bank renewed its tough talk on bitcoin Friday, calling all digital currency activities illegal and vowing to crack down on the market. In a Q&A posted to its website, the People’s Bank of China said services offering to trade, order matching, token issuance and derivatives for virtual currencies are strictly prohibited. Overseas crypto exchanges providing services in mainland China are also illegal, the PBOC said. “Overseas virtual currency exchanges that use the internet to offer services to domestic residents is also considered illegal financial activity,” the central bank said, according to a CNBC translation of the comments. Workers at foreign crypto exchanges will be investigated, it added. The PBOC said it has also improved its systems to step up monitoring of crypto-related transactions and root out speculative investing.
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Lahore court indicts Shehbaz Sharif’s wife in money laundering case LAHORE – An accountability court in Punjab capital indicted Nusrat Shehbaz, the wife of PML-N President and Leader of the Opposition in the National Assembly, in a money laundering case on Friday. Reports quoting sources said the verdict was announced at a hearing pertaining to money laundering cases against former CM Punjab and son Hamza filed by the country’s anti-graft watchdog. Judge Naseem Ahmed Virk framed charges against Sharif’s wife, while she was indicted through a pleader for being in a foreign country for medical treatment – she was earlier declared a proclaimed offender after a prolonged absence. Meanwhile, the accountability court directed prosecution witnesses to appear at the next hearing to record their depositions and adjourned the hearing until October 18. Hamza Shehbaz also appeared in the court, while Shehbaz’s request for exemption was accepted. The opposition leader suffered back pain after the fall from stairs and doctors have advised him complete rest. The National Accountability Bureau has accused the brother of the former PM of laundering money and owning more assets than his known sources of income.
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A statement issued by Karachi Administrator Murtaza Wahab cited “Keeping in view the situation resulting from the expected tropical cyclone and the rainfall, it has been decided that Friday the 1st of October will be a public holiday. All offices, educational institutions & businesses except essential services shall remain closed in Karachi.”
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