Bitcoin drops as China declares all crypto activity illegal

Beijing has announced all activity relating to digital coins is now “illegal”, intensifying recent restrictions on cryptocurrencies The move could further perturb investors amid a crackdown on finance and tech companies in China Crypto bulls often say bitcoin is heading “to the moon”. Now they can’t even send it to China legally.  In a potentially […]

China says all crypto transactions illegal

BEIJING (AP) — China’s central bank on Friday declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money. Friday’s notice complained Bitcoin, Ethereum and other digital currencies disrupt the financial system and are used in money-laundering and other crimes.  . . . Source

All crypto-currency transactions illegal, declares China

China’s central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin, reports BBC. “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 […]

China announces cryptocurrency trading is illegal

China’s central bank has announced that all transactions using cryptocurrencies are illegal and have increased crackdown efforts on illegal mining of the currencies in China. Chinese banks have been prohibited from handling cryptocurrencies for nearly a decade, but traders have continued to buy and sell cryptocurrencies surreptitiously for years. China has also previously been considered […]

China Makes Cryptocurrency Illegal

Copyright 2021 NPR. To see more, visit SCOTT SIMON, HOST: China is banning cryptocurrency transactions. And as NPR’s David Gura reports, it’s sending shockwaves through a sector valued at $2 trillion that’s been largely free from government interference. DAVID GURA, BYLINE: Part of cryptocurrency’s popularity worldwide stems from the fact that the digital asset […]