News Snapshot:
Foreign exchanges also block service provision to Chinese residents After the People’s Bank of China, the central bank of China, declared that all kinds of cryptocurrency transactions were illegal, the price of cryptocurrencies, including bitcoin, fell. The People’s Bank of China said on the 24th that “virtual currency does not hold the same status as legal currency,” and “belongs to illegal financial activities.” As a result, it is expected that it will be blocked from providing services to Chinese residents, as well as virtual currency trading services in China, as well as overseas cryptocurrency exchanges. The Chinese government has continued...