China declares all cryptocurrency transactions illegal, Bitcoin price plummets

The People's Bank of China on its website wrote that all cryptocurrencies, including Bitcoin and Tether, are not fiat currency and cannot be circulated on the market. Reuters reports that the PBOC will bar financial institutions, payment companies, and internet firms from facilitating cryptocurrency trading, and will strengthen monitoring of...

China declares all cryptocurrency transactions illegal, Bitcoin price plummets
The People's Bank of China on its website wrote that all cryptocurrencies, including Bitcoin and Tether, are not fiat currency and cannot be circulated on the market. Reuters reports that the PBOC will bar financial institutions, payment companies, and internet firms from facilitating cryptocurrency trading, and will strengthen monitoring of...