News Snapshot:
Chinese Payments Associations Back China's Crypto Ban in Latest Warning China has banned financial institutions and payment firms from providing cryptocurrency transaction services. May 18, 2021 Bitcoin and China. Image: Shutterstock Three banking and payments associations have doubled down on the central bank's ban on financial institutions and payment firms from engaging in business related to cryptocurrency transactions. It has also warned investors against crypto trading which it has described as speculative. "Recently, cryptocurrency prices have skyrocketed and plummeted, and speculative trading of cryptocurrency has rebounded, seriously infringing on the safety of people's property and disrupting the normal economic and...
