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.