China Calls All Crypto Transactions Illegal, Bitcoin Drops $4k In Response

China Calls All Crypto Transactions Illegal, Bitcoin Drops $4k In Response

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 […]


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Ethereum drops more than Bitcoin as China escalates crypto ban, ETH/BTC at 3-...

The second-largest cryptocurrency falls 13.30% versus Bitcoin's 9.38% decline as China's move scares investors away. The price of Ethereum's native token Ether (ETH) crept lower Friday after China extended its crackdown on cryptocurrencies by deeming their transactions as "illegal.""Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies," the People's Bank of China said in a statement on its website Friday, adding that online crypto services to Chinese residents offered by offshore exchanges are also....

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China Has Shut 13 Underground Crypto Trading Apps, Here’s More About It

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China's share in Bitcoin transactions declined 80% post crackdown: PBoC

China has carried out multiple crypto crackdowns and enforced numerous bans on crypto markets since 2013, however, Chinese traders have always found a way to bypass these bans. People’s Bank of China, the central bank of the country, claimed in a recent note that China's share in the global Bitcoin (BTC) transactions has rapidly dropped from over 90% to 10%.The Financial Stability Bureau of the Chinese central bank released a comprehensive note on Wednesday discussing the impact of the crypto crackdown on the financial markets. The official notice claimed that all peer-to-peer exchanges in....