News Snapshot:
Following an order on Friday to close bitcoin mining operations in its Sichuan province, China has tightened its clampdown on cryptocurrencies calling on several major banks and payments companies to take stronger actions against the trading of the virtual currencies. On Monday, the People’s Bank of China (PBoC), called on banks to not provide products or services including trading, clearing, and settlement for cryptocurrency transaction. Bitcoin’s price dipped by as much as 10 per cent on Monday to as low as $31,333 – close to half its peak in April of about $65,000 – and the drop was followed by...
