Crypto Crumbles. What China’s Ban Means for Digital Currencies.

3 weeks ago 13

Updated Sept. 24, 2021 11:29 americium ET / Original Sept. 24, 2021 6:03 americium ET

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The Chinese authorities has been getting tougher connected cryptocurrencies.

Rutmer Visser/Dreamstime

China’s latest crackdown connected Bitcoin and different cryptocurrencies is fueling fears astir however debased prices tin autumn arsenic they excavation deeper into correction territory.

Bitcoin, Ethereum, and smaller coins tumbled Friday aft the People’s Bank of China and different regulators said Friday each crypto-related transactions were amerciable and indispensable beryllium banned. The statement, signed Sept. 15 by respective authorities agencies, lays down a pugnacious caller regime, reinforcing a prohibition connected mining, informing of stiff penalties for trading and fiscal transactions...

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