Regulations have been put in place by China, aimed at cracking down on the use of virtual currencies amidst worries that large underground economies are developing out of the country's online gaming community. The regulations set forth aim to cutback trading in virtual currencies, prevent online gambling, and restrict virtual currency from being exchanged for cash or used to buy other real goods.
The biggest worries Chinese officials have is that online currencies could ultimately serve as an alternative to China's official currency, and have major implications on the country's financial system. The government said it will restrict who can issue virtual currency and forbid people from taking virtual currency from one online site and selling or trading it somewhere else.
Please note: All rates are subject to change, for the latest up-to-date rates check our Currency converter
Contact Us
Currency Converter
Today's Currency News
Leaders at the G8 summit over the weekend indicated their desire for Greece to remain in the Euro...
Currency Rates
| US Dollars | 1.5802 |
| Euros | 1.2366 |
| Swiss Francs | 1.4854 |
| Australian Dollars | 1.6013 |
| South African Rand | 13.075 |
| GBP indicative mid-market rate at 19:20. Please call for quote. | |
Currency Solutions Ltd is registered in England, Company No. 4864491.
© 2003 - 2012
Registered address is Hobbs Court, 2 Jacob Street, London SE1 2BG.
HM Revenue & Customs, No. 12162570
Regulated and authorised by the Financial Services Authority,
as a Payment Institution, No. 512130