Twisted
Contributing Member
So a few stories just dropped this past hour on China cracking down on crypto's. Posted a story, and a couple of links. At this time bitcoin is down 4.7% and other up to 9%
m.economictimes.com
China deems all crypto-related transactions illegal, bitcoin slips 5%
All cryptocurrency-related transactions are illegal and must be banned, China’s central bank said, sending the strongest signal yet on its determination to crack down on the industry.
Ten Chinese government agencies, including the central bank as well as banking, securities and foreign exchange regulators, said in a joint statement that they would work closely to maintain a "high-pressure" crackdown on speculative trading of cryptocurrencies.
All cryptocurrencies, including bitcoin and tether, are not fiat currency and can’t be circulated on the market, People’s Bank of China said on its website. All crypto-related transactions, including services provided by offshore exchanges to domestic residents, are illicit financial activities, the PBOC said in the statement. The regulator will also bar financial institutions, payment companies and internet firms from facilitating cryptocurrency trading, and will strengthen monitoring of risks from such activities.
The government will "resolutely clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard people's properties and maintain economic, financial and social order," the PBOC said in a statement on its website.
The National Development and Reform Commission said it was launching a nationwide crackdown on crypto mining. Previous restrictions have been issued by local governments.
Bitcoin dropped as much as 5% on Friday. Ether also tumbled, as did other crypto stocks.
www.forbes.com
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www.reuters.com
China turns the screws in crypto crackdown
SHANGHAI, Sept 24 (Reuters) - China intensified a crackdown on cryptocurrency trading on Friday, vowing to root out "illegal" activity in trading of bitcoin and other virtual currencies and issuing a nationwide ban on cryptocurrency mining.
China deems all crypto-related transactions illegal, bitcoin slips 5%
All cryptocurrency-related transactions are illegal and must be banned, Peoples Bank of China says, sending the strongest signal yet on its determination to crack down on the industry.
China deems all crypto-related transactions illegal, bitcoin slips 5%
All cryptocurrency-related transactions are illegal and must be banned, China’s central bank said, sending the strongest signal yet on its determination to crack down on the industry.
Ten Chinese government agencies, including the central bank as well as banking, securities and foreign exchange regulators, said in a joint statement that they would work closely to maintain a "high-pressure" crackdown on speculative trading of cryptocurrencies.
All cryptocurrencies, including bitcoin and tether, are not fiat currency and can’t be circulated on the market, People’s Bank of China said on its website. All crypto-related transactions, including services provided by offshore exchanges to domestic residents, are illicit financial activities, the PBOC said in the statement. The regulator will also bar financial institutions, payment companies and internet firms from facilitating cryptocurrency trading, and will strengthen monitoring of risks from such activities.
The government will "resolutely clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard people's properties and maintain economic, financial and social order," the PBOC said in a statement on its website.
The National Development and Reform Commission said it was launching a nationwide crackdown on crypto mining. Previous restrictions have been issued by local governments.
Bitcoin dropped as much as 5% on Friday. Ether also tumbled, as did other crypto stocks.
China’s Central Bank Says All Cryptocurrency Transactions Are Illegal
The People’s Bank of China will ban financial institutions, payment companies, and internet platforms from facilitating cryptocurrency trading.
www.forbes.com
China's top regulators ban crypto trading and mining, sending bitcoin tumbling
China's most powerful regulators on Friday intensified a crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks.
www.reuters.com
China turns the screws in crypto crackdown
SHANGHAI, Sept 24 (Reuters) - China intensified a crackdown on cryptocurrency trading on Friday, vowing to root out "illegal" activity in trading of bitcoin and other virtual currencies and issuing a nationwide ban on cryptocurrency mining.
