Central Bank Prohibits Loans for Purchasing Cryptocurrency and Gold

The central bank has issued a directive completely banning financial loans for the purchase of gold, foreign currency, and cryptocurrencies. This guideline has been issued to prevent bank liquidity from entering speculative markets and imposes heavy penalties on violators. According to this directive, all banks and financial institutions are required to refine their credit allocation processes. The prohibition includes the granting of any type of loan for purchasing gold, foreign currency, and digital assets, and also prohibits loans to exchanges and trading platforms. Lending platforms and microcredit providers are also not allowed to allocate credit to these markets. The central bank has emphasized that any failure to monitor the use of loans falls on the management levels of the relevant financial institutions, and in case of violations, the offending managers and employees will be referred to judicial authorities. This action demonstrates the central bank's determination to prevent the leakage of credits into speculative and brokerage channels.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.