News Snapshot:
China Cracks Down, on Cryptocurrency, Declares All Transactions Illegal. The move by China's central bank has essentially banned unregulated digital currency such as Bitcoin. "Virtual currency-related business activities are illegal financial activities.", The People's Bank of China warned that crypto, "seriously endangers the safety of people's assets.". The BBC notes that China is one of the world's largest cryptocurrency markets. In the wake of the announcement, the price of Bitcoin fell by over $2,000. . It is the latest measure in China's massive crackdown on the unregulated crypto market. The country already banned trading cryptocurrency in 2019, but it has...
