China bans crypto currency transactions

China bans crypto currency transactions

Last Friday, China’s central bank, the People’s Bank of China, said that crypto currency transactions are illegal as such currencies “do not have legal tender status” and therefore “cannot be circulated as currency in the market.” In a statement, the Chinese central bank said that bitcoin and other virtual currency transactions have disrupted economic and … Read more

Bitcoin falls as Chinese regulator intervenes in cryptocurrency mining

Bitcoin falls as Chinese regulator intervenes in cryptocurrency mining

According to the latest news, in China, cryptocurrency services like Huobi Mall and BTC.TOP are suspending their operations in the region. Chinese local government has ramped up its efforts to crack down on Bitcoin mining and trading causing chaos all over the digital currency ecosystem. IndianExpress reported that a State Council committee led by Vice … Read more