Did China Conveniently Ban Crypto Again On Options Expirations Day?
Today’s press release from People’s Bank Of China reiterates rules already imposed by the Chinese government.
China has banned bitcoin and cryptocurrencies so many times that I’ve lost count.
(h/t @JohnStCapital) pic.twitter.com/pIZm7FDBNk
— Pomp ?? (@APompliano) September 24, 2021
People’s Bank of China (PBOC) released a summary of China’s cryptocurrency ban. It reiterates the fact that crypto trading and the use of crypto as a unit of exchange is illegal in the country.
Recommended: Check out our piece on China’s crypto crackdown.
- The latest China FUD actually passed on September 15th. But the PBOC waited to release their summary on the last day of September expirations.
- Despite the fact that the release is mostly a summary with slight revisions, it didn’t stop FUD headlines from flooding the timeline.
- Apparently, this latest round of FUD also extends to mining. However, the PBOC press release did not include anything on Bitcoin miners.
- The news comes on the same day as Chinese real estate company Evergrande reportedly missed their interest payment.
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Text source: CryptosRus
