News Snapshot:
(Getty via AFP) Cryptocurrencies sunk today after the People’s Bank of China declared the market illegal. China’s central bank said all forms of cryptocurrency transactions were illegal and should be banned in a Q&A posted on its website, Bloomberg reported. Offshore providers of crypto services to Chinese citizens are also in violation of the law, PBoC said. The language signalled a stepping up of China’s crackdown on cryptocurrencies and sent prices sinking across the market. Bitcoin, the world’s biggest crypto token, fell as much as 5% before parring back losses to trade at $42,507, down 2.6% on the day. Ethereum,...
