News Snapshot:
Bitcoin, the world’s largest cryptocurrency, continued its slide on Tuesday, falling to below $30,000 for the first time since January, as Chinese authorities, worried about the environmental impact of cryptocurrency, closed down mining operations in Sichuan. Bitcoin was down more than 11 per cent on Tuesday to below USD 32000 Ethereum, the second-largest cryptocurrency, was down 13.8 per cent to $1,725. China’s central bank has encouraged payment service provider Alipay and other large institutions to crack down on cryptocurrency trading, he added, citing reports of Bitcoin miners in Sichuan being shut down after regulators in China stopped crypto mining. In...
