China's Tightening Grip: PBOC Declares Cryptocurrency Transactions Illegal

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 25 September 2021

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

DB-Sep24,2021: China says goodbye to cryptocurrencies as the PBOC officially declares that all crypto transactions are now illegal. The crackdown comes as China plans to unveil its official digital Yuan early next year. Overnight crypto market action brings Real Vision CEO and co-founder Raoul Pal to the scene to discuss where China fits into the ever-evolving cryptocurrency regulatory narrative and what it portends for the future of the space. Interviewed by Ash Bennington. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3AELHqV Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Connect with your customers in a whole new way with Salesforce Customer 360.
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0:30.0	Welcome to the Real Vision Podcast Network.
0:42.0	Welcome to the Real Vision Daily Briefing.
0:44.0	It's Friday, September 24th, 2021.
0:47.0	Today I'm joined by our CEO and co-founder, Rao Pal Rao. Welcome.
0:52.0	It's good to be here.
0:54.0	As you can tell, I'm in Little Cayman, which makes me very happy when I get over here.
0:58.0	I know most people think Grand Cayman's quite a quiet and charming place,
1:02.0	but Little Cayman's something special, so I'm very happy to be here for the weekend.
1:06.0	How many people on the island, Rao?
1:08.0	Well, right now both two of the hotels are closed because it's off-season,
1:12.0	so probably I would guess there's about 100 here right now.
1:16.0	Wow. And at peak season when everybody's here staying in their houses, it's probably 200.
1:23.0	Beautiful place though.
1:24.0	Rao, talking about numbers, is it a lot of news flow today or is it a lot of noise?
1:29.0	Let's talk a little bit about what's happening in China.
1:32.0	Newswire is flashing around 5 o'clock this morning talking about China apparently expanding,
	...

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