The People's Bank of China has imposed a ban on all cryptocurrency transactions.
Now all companies that deal with digital assets are outlawed in China. However, ownership of cryptocurrencies is still permitted.
Bank officials also said they would increase monitoring of cryptocurrency transactions.
After the release of the statement, the price of Bitcoin dropped by 5% in a few minutes. At the time of writing, BTC is trading around $42,500.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
The President of Kazakhstan demands to “regulate mining” in the country
President of Kazakhstan Kassym-Jomart Tokayev instructed the Ministry of Finance to “urgently” address the issue of regulating the activities of miners in the republic.
US Senators Call on Facebook to Abandon Novi Project
Yesterday, an official letter signed by a group of Democratic senators was sent to Mark Zuckerberg. In it, they demand that his project to develop the Novi digital wallet for the needs of the social platform be frozen.
