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Blockchain-Linked Companies' Stocks Tumble After China Imposes Curbs on Crypto


Blockchain-Linked Companies’ Stocks Tumble After China Imposes Curbs on Crypto
Published May 20th, 2021 - 07:00 GMT
The latest slump in cryptos also comes amid questions over their stability, store of value, and their use by criminals, notably for ransomware attacks such as the one on the Colonial Pipeline Company last week. (Shutterstock)
Highlights
According to Reuters, institutions, including banks and online payments channels may not offer clients any service involving cryptocurrencies, such as registration, trading, clearing and settlement.
Shares of blockchain- and crypto-linked companies were having a rough time in Wednesday’s premarket as China clamped down on financial institutions and payment companies to stop them from providing services related to cryptocurrency transactions. ....

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