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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