News Snapshot:
Major cryptocurrencies in the market are trading at a drop of more than 5% after China announced on Friday that all virtual currency transactions on its soil are illegal, a move that some experts deemed a “dictatorship.” The People’s Bank of China published a statement on Friday making it clear that “cryptocurrencies are not legal tender” and declaring that transactions using virtual currency are “illegal” in order to “change the economic and financial system,” which experts say they attribute to a measure of greater state control over the country. Population economy and finances. Regarding the reasons that prompted the Chinese...
