News Snapshot:
China bans all cryptocurrency, deems transactions illegal By Associated Press 10:45am Sep 25, 2021 China’s central bank has declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money. Friday’s notice complained Bitcoin, Ethereum and other digital currencies disrupt the financial system and are used in money-laundering and other crimes. “Virtual currency derivative transactions are all illegal financial activities and are strictly prohibited,” the People’s Bank of China said on its website. The price of Bitcoin fell more than 9 percent per cent, to US$41,085, in the hours after the...
