The government will bar the use of cryptocurrencies as a means of payment for goods and services, saying the wider use of digital assets threatens the nation’s financial system and economy.
Business operators -- including crypto exchanges -- must not provide such payment services, and are barred from acting in a manner that promotes the use of digital assets to pay for goods or services, the Securities and Exchange Commission said in a statement on Wednesday. However, the new regulation won’t affect trading or investments in digital assets, the agency said.
