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What the latest crackdown in Beijing means for cryptocurrency in China

What the latest crackdown in Beijing means for cryptocurrency in China
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What the latest crackdown in Beijing means for cryptocurrency in China

What the latest crackdown in Beijing means for cryptocurrency in China
texasguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from texasguardian.com Daily Mail and Mail on Sunday newspapers.

Explainer: What Beijing s new crackdown means for crypt

Explainer: What Beijing s new crackdown means for crypto in China Reuters | May 19, 2021 11:19 PM EDT A small toy figurine is seen on representations of the Bitcoin virtual currency displayed in front of an image of China s flag in this illustration picture (Photo : REUTERS/Dado Ruvic/Illustration) Chinese regulators have tightened restrictions that ban financial institutions and payment companies from providing services related to cryptocurrencies, marking a fresh crackdown on digital money. Compared with a previous ban issued in 2017, the new rules greatly expanded the scope of prohibited services, and judged that virtual currencies are not supported by any real value . Advertisement

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Nearly $1 trillion has just been wiped off the cryptocurrency market What happened?

Nearly $1 trillion has just been wiped off the cryptocurrency market What happened?
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Bitcoin tumbles below US$39,000 after China issues warning | Money

Wednesday, 19 May 2021 05:21 PM MYT A Bitcoin coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris June 23, 2017. Reuters pic Subscribe to our Telegram channel for the latest updates on news you need to know. BEIJING, May 19 Bitcoin plunged below US$39,000 (RM161,050) for the first time in more than three months Wednesday after China said cryptocurrencies would not be allowed in transactions and warned investors against speculative trading in them, despite the country powering most of the world’s mining. The comments sent the unit diving more than 10 per cent and dealt it another blow soon after being battered by comments from tycoon Elon Musk and his Tesla car company.

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