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Crypto illegal in china! (t.me)

posted 3 years ago by QAJQAJQ 3 years ago by QAJQAJQ +16 / -0

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– ThankGod 2 points 3 years ago +2 / -0

Another source:

China declares all crypto-currency transactions illegal

China's central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin.

"Virtual currency-related business activities are illegal financial activities," the People's Bank of China said, warning it "seriously endangers the safety of people's assets".

China is one of the world's largest crypto-currency markets.

Fluctuations there often impact the global price of crypto-currencies.

The price of Bitcoin fell by more than $2,000 (£1,460) in the wake of the Chinese announcement.

It is the latest in China's national crackdown on what it sees as a volatile, speculative investment at best - and a way to launder money at worst.

https://www.bbc.com/news/technology-58678907

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