BEIJING, May 7th (TMTPOST) — China CITIC Bank said in a statement that the bank does not support any bitcoin or litecoin-based transactions made by any individual or organization.
According to CITIC Bank, the policy is made to support the Renminbi (RMB) as the fiat money and prevent money laundering.
The bank will be entitled to the right to use measures such as suspending transactions and even the relevant accounts once bitcoin or litecoin-based transactions are spotted.