Friday's notice complained Bitcoin, Ethereum and other digital currencies disrupt the financial system and are used in money-laundering and other crimes.
A visitor passes by a logo for the e-CNY, a digital version of the Chinese Yuan, displayed during a trade fair in Beijing, China, Sunday, Sept. 5, 2021. China's central bank on Friday, Sept. 24, 2021 declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money. It is developing an electronic version of the country's yuan for cashless transactions that can be tracked and controlled by Beijing.
The price of Bitcoin fell more than 9%, to $41,085, in the hours after the announcement, as did most other crypto tokens. Ethereum skidded almost 10%, falling from $3,100 to around $2,800. The People’s Bank of China is developing an electronic version of the country’s yuan for cashless transactions that can be tracked and controlled by Beijing.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Friday actor Anthony Johnson's family say they are struggling to pay for funeralFriday actor Anthony Johnson is best known for his roles in House Party and Friday and he also appeared in the Lethal Weapon franchise
Read more »
Here's What We Know About the 2021 Black Friday and Cyber Monday Fashion DealsWhat You Need to Know About This Year's Black Friday and Cyber Monday Fashion Deals
Read more »
Tropical Storm Sam Forms in Eastern Atlantic; Forecast to Become a Hurricane Friday | The Weather Channel - Articles from The Weather Channel | weather.comBREAKING: Tropical Storm Sam forms, the 18th named storm of the 2021 Atlantic hurricane season. Tune to The Weather Channel for continuing coverage. Our latest, complete forecast briefing:
Read more »
Bitcoin plummets after China intensifies cryptocurrency crackdownChina deems all cryptocurrency-related transactions illegal, news that sends Bitcoin and Ethereum prices tumbling
Read more »
China’s Central Bank Says All Cryptocurrency Transactions Are IllegalThe People’s Bank of China will ban financial institutions, payment companies, and internet platforms from facilitating cryptocurrency trading.
Read more »
China Declares Cryptocurrency Transactions Illegal, Bitcoin Price LowerChina’s central bank said all cryptocurrency-related transactions are illegal, reinforcing the country’s tough stance against digital rivals to government issued money.
Read more »