Bitcoin fell by almost 10 per cent overnight, with Ethereum registering a 16 per cent loss at 7:45 AEST.The People's Bank of China on Monday told the country's major financial institutions to stop facilitating virtual-currency transactions, increasing the negative sentiment in crypto markets.
The four major state-owned commercial banks and payment service Alipay promised to step up monitoring of customers and block use of their accounts to buy or trade crypto-currencies.READ MORE:China is understood to have accounted for around 65 per cent of global bitcoin production last year. The Chinese central bank is developing an electronic version of the country's yuan that could be tracked and controlled by Beijing.
Promoters of cryptocurrencies say they allow anonymity and flexibility, but Chinese regulators warn that might aid money-laundering or otherBank executives on Monday were summoned to a meeting at which they were questioned about their activities and told to "maintain financial stability and security," the central bank said in a statement.
It said cryptocurrency trading "disrupts normal economic and financial order" and can facilitate money laundering and other crime.
Source: Digital Coin News (digitalcoinnews.net)
If you buy shares in cryptocurrency you really should be worried. Elon Musk recently proved this by first making a positive announcement and then hardly a few months later backtracking on his promises. He made a lot of money out of that stunt. A lot of other people lost! Bitcoin?
You mean that pretend play money that they use in that game 'Your Stupid to think your going to get rich'?
When enough money is lost, these companies and greedy idiots who still think the Chinese gov is worth investing in, will learn that China wasn’t worth it in ancient times and it’s not worth it in modern times. In the end you will lose. Take your money home.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street surges higher, bitcoin price drops as China cracks downThe local market looks set to follow the strong overseas lead, after the Dow added more than 500 points in the US. China continues to restrict bitcoin mining, sending cryptocurrency prices lower. The news here is the sorry state of labor government in Victoria. China reducing production is probably a positive. It’s called demand and supply.
Source: abcnews - 🏆 5. / 83 Read more »
Why the US-China rivalry is extending from Earth into spaceWhen it comes to the intensifying rivalry between the United States and China, the sky is by no means the limit. 9News In space there are no rules. Imagine China colonising the moon or a planet then everyone defecting because China has no power or say there.
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Top UN official seeks China visit to investigate human rights abuse allegations against Uighurs in XinjiangMichelle Bachelet is under growing pressure from some countries to secure unfettered access to Xinjiang, where activists say more than a million Uighurs and other Turkic Muslims have been mistreated or subject to forced labour. A bit laughable given China has power of veto over any resolution. Also a little laughable is human rights atrocity committed casually by Islamic regimes under the protection of religious freedoms all but ignored by the UN with the exception of some intermittent damming reports. And yet United Nations are still not allowed to visit West Papua for 60 years! WestPapuaGenocide FreeWestPapua United Nations are very selective in where they look for human rights abuses.
Source: SBSNews - 🏆 3. / 89 Read more »
China announces its one-billionth COVID-19 shot as Brazil's pandemic death toll tops 500,000China on Sunday announced it had administered its one-billionth shot in the world's biggest coronavirus inoculation drive as Brazil's death toll from the pandemic passed 500,000. 1 billion doses 50% efficacy. 😅 What vaccine though? Other countries using the China vax are ramping up again. Hahaha sure
Source: SBSNews - 🏆 3. / 89 Read more »
Taiwanese staff leave Hong Kong over ‘one China’ demandOfficials said the Hong Kong government has demanded staff sign a letter supporting Beijing’s claim to Taiwan. Junta terrorists unwarrantedly abducted Ko KyawThein, a 50 yrs old man from his home in Kyaukme, northern Shan State. They also raided other homes and beat some people anarchically. June20Coup WhatsHappeningInMyanmar MilkTeaAlliance Under china control hongkong not a international city, it just china jail HK is same as one China county now. OnwCountryTwoSystemsIsDead CCP_is_terrorist HumanRightsViolations BoycottBeijing2022 CCPLiedPeopleDied
Source: smh - 🏆 6. / 80 Read more »
China has administered more than 1 billion COVID-19 vaccine dosesIn a worldwide milestone, China says it has administered more than one billion COVID19 vaccine doses. This accounts for 40 per cent of the doses administered across the globe. DETAILS: 9News Wow, shows what a country can accomplish when not lead by the libs! Are we still believing what comes out of China after they faked those videos of people dying on the streets?
Source: 9NewsAUS - 🏆 10. / 72 Read more »