Reports from Reuters suggest that officials at the People\'s Bank of China are now calling for a ban on a wide number of services which are related to cryptocurrency markets operating within the nation’s borders.

The vice governor of the People\'s Bank, Pan Gongsheng, said that action was necessary to mitigate any risk that cryptocurrencies may pose to the wider economy and that the government would introduce strict regulations which would end any cryptocurrency trading activity and associated services.

The details reportedly came from a leaked memo, so it is unclear if and when the plans outlined by Pan would be implemented. However, this news confirms the continued hard line which the Chinese government appears to be planning to take with bitcoin and other cryptocurrencies.

In September 2017, financial regulators in China banned initial coin offerings (ICOs) and then required all domestic coin exchanges to stop all crypto-to-fiat trading services. In response to these restrictions, many exchanges have changed their business model and now offer overseas crypto-to-crypto and over-the-counter trading, which are still legally available to people who are resident in the country.

The report ends with a suggestion that Pan will now seek the co-operation of state and local authorities to investigate and block any cryptocurrency platforms which enable Chinese investors to trade on cryptocurrency markets.