China makes all cryptocurrency transactions illegal

China's central bank has declared all transactions involving Bitcoin, Ethereum and other cryptocurrency illegal, stepping up a campaign to block use of unofficial digital money in the country. China has targeted Bitcoin since 2013, forbidding financial institutions from handling bitcoin transactions, and over the years, has renewed its crackdown of the crypto market. The ban reflected official concern cryptocurrency mining and trading might still be going on or the state-run financial system might be indirectly exposed to risks. Friday's notice said Bitcoin, Ethereum and other digital currencies disrupted the financial system of the country and are used in money-laundering and…