China says it will crack down on bitcoin mining, trading activities

China will crack down on bitcoin mining and trading activities in its bid to fend off financial risks, the Financial Stability and Development Committee said on Friday.

The country will fiercely crackdown on illegal activities in the securities market, and maintain the stability of stock, bond and forex markets, the committee said in a meeting chaired by Vice Premier Liu He.

China's prudent monetary policy will be flexible, targeted and appropriate, while it will keep the yuan exchange rate basically stable at reasonable and balanced levels, it added.