China bans transactions with BTC and other cryptocurrencies
After the announcement of the People’s Bank of China, bitcoin sank 6%.
The main financial regulator of the PRC, the People’s Bank of China (NBK), announced that transactions with any cryptocurrency are prohibited in the country, including Bitcoin.
This is reported by the publication wsj.com
According to the NBK, transactions with any digital assets, including stablecoins, will be outlawed. They will be regarded by the regulator and the state as “illegal financial activity”. It is worth noting that the services of cryptocurrency exchanges have also been declared illegal. The regulator explains its decision by the fact that the country must “create and improve a working mechanism to reduce the risks associated with the excitement in trading virtual currency.”
The RBC edition reports that after this statement, the BTC rate decreased by 6%, which corresponds to $ 3 thousand.And at the time of writing the news, the cryptocurrency has a value of $ 42.5 thousand.
Following the decline in the rate of the most popular cryptocurrency, other digital currencies also dropped. For example, Ethereum is now 7% cheaper, Cardano and Binance Coin are 6% cheaper. Altcoin Huobi was the most unlucky, which plummeted 15%.
Some cryptocurrency exchanges also lost some value. So, Coinbase shares are now 2% cheaper – $ 237, MicroStrategy and Square shares – by 1%. But they managed to get back the lost interest pretty quickly.
Recall that the BTC rate rose to $ 45 thousand when Twitter announced on September 23 that it now has a function for sending donations in bitcoins. For now, it can be used by owners of Apple devices, but soon it will be available to owners of Android devices.
Earlier, we wrote about 10 countries in which cryptocurrencies are banned. And China is one of them.
Read more: https://mcc.exchange/2021/09/23/china-bans-transactions-with-btc-and-other-cryptocurrencies/
Text source: MCC.EXCHANGE
