Digital Marathon and Other Cryptocurrency-Related Actions Fall After China Declared Cryptocurrency Transactions Illegal


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Shares of bitcoin miners and other stocks similar to the cryptocurrency area fell on Friday after China said all cryptocurrency-like transactions were illegal, and the country’s continued crackdown on virtual assets also reduced bitcoin’s value. Bitcoin and ether “are not legal and cannot be used as currency in the market,” the People’s Bank of China said, according to a translated edition of its statement. prestige as fiat currency because they are issued through a non-monetary government and use encryption technology, he said. The acquisition and sale of virtual currencies as a central counterparty and the provision of prices are some...