Bitcoin slumps 8% amid Chinese crackdown

Bitcoin slumps 8% amid Chinese crackdown by Bloomberg | Today at 1:51 a.m. Bitcoin fell to a two-week low Monday amid an intensifying cryptocurrency crackdown in China. The largest virtual currency fell 8% to $33,070 Monday morning in London. Ether declined 12% to $1,993. China has ordered payment platform Alipay and domestic banks to not to provide services linked to trading of virtual currencies. The institutions were also ordered to cut off payment channels for crypto exchanges and over-the-counter platforms, the People’s Bank of China said in a statement. It’s more evidence of China’s tougher stance on crypto that’s stretching…