On September 24, 2021, the People’s Bank of China’s (PBOC) published a Q&A on its website stating, according to English translations of the original text, that all digital currency services for trading, order matching, token issuance and derivatives of virtual currencies are strictly prohibited. The Q&A stated further that overseas virtual currency exchanges that use the internet to offer services to domestic residents are also considered illegal financial activity, and employees working in China for…