Bitcoin and Ethereum Fall as China Intensifies Crackdown on Cryptocurrencies


Source: explica.co explica.co

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The Chinese government has again announced more bearish statements on cryptocurrencies, reiterating its ban on the use of “virtual currencies” since 2017. The total market capitalization of all cryptocurrencies in the sector – important the combined price of all tokens in circulation – declined nearly 5% today after the Chinese government again made clear its negative stance towards digital assets. “Recently, virtual currency trading advertising activities have increased, which has disturbed the economic and financial order, and led to illegal and criminal activities such as gambling, illegal fundraising, fraud, pyramid schemes and money laundering, ” the Chinese government said. Although...