News Snapshot:
May 18, 2021 China Issues Strong Warnings Against Crypto, Says It Has No Real Value While cryptocurrency adoption seems to be entering a mainstream phase, the Chinese government has just dropped a bombshell that will adversely affect crypto entities in the country. According to a Tuesday report, the country’s authorities have issued a statement banning every financial service provider in the country from processing crypto-related transactions. In effect, financial institutions and payment companies will no longer provide cryptocurrency services to their clients including registration, trading, clearing, and settlement. The statement was jointly signed by three major Chinese industry bodies —...
