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China Bans Cryptocurrencies

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FOREIGN NEWS: China Bans Cryptocurrencies [New Foreign News] » Naijacrawl
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Though the country has banned Crypto trading for several times but the China’s central bank said all cryptocurrency-related transactions are illegal and must be banned, sending the strongest signal yet on its determination to crack down on the industry.



All cryptocurrencies, including Bitcoin and Tether, are not fiat currency and cannot be circulated on the market, the People’s Bank of China said on its website.

China has been one of the few countries that had banned Crypto trading and the world most populous nation is now deciding to target all her citizen that are using VPN to trade crypto. The news might have a negative effect on the dwindling crypto prices.

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Piroll
 

Piroll is a prolific writer, social-political commentator, socio-researcher and sports analyst. He holds certificates in media management and data journalism from the Thomas Foundation Institute of Journalism. He works as a f... Read More

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