News Snapshot:
The price of Ethereum’s native token Ether ( ETH ) crept lower Friday after China extended its crackdown on cryptocurrencies by deeming their transactions to be “illegal.” “Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies,” the People’s Bank of China said in a statement on its website Friday, adding that online crypto services to Chinese residents offered by offshore exchanges are also “illegal financial activities.” Bids for the ETH/USD pair dropped by up to 13.30% to $2,735 in response. At its week-to-date (WTD) high, traders paid as much as $3,346 for...
