China Declares Cryptocurrency Transactions Illegal; Bitcoin Price Falls

7:39:05 AM PDT by [Scarlett156](/~scarlett156/) China's central bank said all cryptocurrency-related transactions are illegal, reinforcing the country's tough stance against digital rivals to government-issued money. In a statement posted on its website on Friday afternoon, the People's Bank of China said the latest notice was to further prevent the risks surrounding crypto trading and to maintain national security and social stability. Cryptocurrencies weakened following the statement. (Excerpt) Read more at wsj.com …