News Snapshot:
The value of Bitcoin has declined sharply, following China’s central bank announcement on Friday, September 24, that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin in the country, Newspremises reports. China is said to be one of the world’s largest cryptocurrency markets and 95 percent of crypto mining occurs in Asian countries. “Virtual currency-related business activities are illegal financial activities,” the People’s Bank of China said, warning it “seriously endangers the safety of people’s assets”. After the announcement, the price of Bitcoin fell by more than $2,000. This is said to be the latest in...
