Bitcoin spirals as China declares crypto transactions illegal
Posted on AllSides September 24th, 2021
From The Right
China has declared all cryptocurrency transactions illegal, a move that comes amid an intensifying crackdown by the Chinese government.
The People’s Bank of China said on Friday that the move was done to ensure national security and stability, but the decision comes after several other regulatory changes in recent months that China hopes will cut down on its competition with the digital tokens.
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