PBOC issues notice to further prevent, dispose of risks from cryptocurrency speculation

PBOC issues notice to further prevent, dispose of risks from cryptocurrency speculation

China strengthens regulation on cryptocurrencies again

  • To strengthen monitoring of risks from cryptocurrency trading
  • Reaffirms that cryptocurrency-related activities are illegal
  • Says overseas crypto exchanges must not provide services to mainland investors
  • To severely punish illegal financing activities related to cryptocurrencies

Bitcoin is taking a significant hit as it falls by over 2.5% to the lows for the day now amid the headlines from China over the past 15-20 minutes.

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