Bloomberg Report Sparks Fears of Bitcoin Curbing Measures by China; Price Drops
A recent article by ZeroHedge regarding potential bitcoin curbing measures by Chinese authorities has raised a number of questions in bitcoin’s community, but Bloomberg confirmed that an article by Steven Yang, Bloomberg’s Beijing correspondent, used by ZeroHedge as a source, is authentic. A spokesperson for Bloomberg told CCN over the phone that the article remains live in their terminals which are accessible to only Bloomberg subscribers and not available on the clearnet. Other industry publications like Singapore’s The Business Times have since reported on the story. Asked whether there....
Related News
On November 3 the Bitcoin price took a dive from a high of US$745 to a low of $675 with news of China circling the internet. A so-called report from the publication Bloomberg had other media outlets assume that China was planning on curbing Bitcoin use in the near future. However, the reports have remained unconfirmed, and many believe the headline was....
China’s central bank has announced that all crypto-related transactions and services are now illegal. In response, Bitcoin drops down to $41k from $45k. China Announces All Crypto Transactions And Activities Are Illegal As per a report from Bloomberg, China has intensified its crackdown on crypto and Bitcoin as the nation’s central bank says all digital […]
The benchmark cryptocurrency slipped briefly under the $29,500-level this Tuesday as a Glassnode report indicated possibilities of miner capitulation in China. Bitcoin (BTC) plunged 7.38% to hit its five-month low of $29,313 on Tuesday as the market stared at the prospect of another sell-off, this time led by miners affected by a recent crackdown against cryptocurrency entities in China.Bitcoin drops below $30K for the first time since January 2021. Source: TradingView.comThe People's Bank of China on Monday said it had summoned multiple regional institutions, including the Agricultural....
After weeks of gains, the price of bitcoin fell back today, dropping roughly 6% on unconfirmed reports that Chinese regulators may soon take measures to restrict domestic exchange activities. First reported by Bloomberg, the news source is said to have published a report detailing how Chinese officials could soon prohibit domestic bitcoin exchanges from moving certain volumes of bitcoin and other digital currencies abroad. Of note, the article alleges, are concerns that bitcoin exchange users may be buying bitcoin on local exchanges and selling abroad, thereby evading foreign exchange....
Dogecoin’s price has dropped almost 10% following China’s statement that crypto transactions and services are illegal in the nation. As China Declares Crypto Transactions Illegal, Dogecoin Plunges Almost 10% According to a report from Bloomberg, China’s central bank has put out a statement saying that all crypto transactions and services are illegal in the country. The central bank, called The People’s Bank Of China (PBOC), has announced that the ban includes activities like derivatives trading and exchange services offered by offshore organizations. Following the....