The People\'s Bank of China (PBoC) has allegedly released a document asking Beijing payment providers to end cryptocurrency trading.

Released on 19th January, the document apparently asks for payment companies to begin investigations internally within their business in order to find out whether digital currency trading activities are taking place. If anyone is found to be trading cryptocurrencies via their payment services, the document states that the servicing of such accounts should be stopped.

The move is said to be the latest part of China\'s efforts to crack down on cryptocurrency trading. In addition to this, the document also reportedly asks that payment services within its power should comply. Whilst it is still unclear as to what effect this may have, when China previously banned initial coin offerings last year, the cryptocurrency exchange shifted to over-the-counter trading quickly.

The two largest order book exchanges in China, Huobi and OKCoin, currently offer platforms where residents in China can market their orders, ensuring that cryptocurrency transactions and fiat currencies are separated. Trading and investing partners would then send Chinese currency through payment processes such as AliPay, WeChat Pay and bank transfers, which more closely resemble normal transactions between two parties.