Cryptocurrency bitcoin down Once again there was a panic in the world of cryptocurrency. Many cryptocurrencies including bitcoin saw a decline. However, the reason behind this is being told to China. Yes, according to media reports, the cryptocurrency has seen a decline due to a warning given by the central bank of China.
The bank has said that services such as trading, order matching, token issuance, and derivatives for virtual currency are completely banned. The bank has said that foreign cryptocurrencies providing such services in China will also not be considered legal. Significantly, China is one of the largest countries in the world for mining cryptocurrency.
By the time the news was written by this statement of the Chinese bank, the price of bitcoins fell by more than 4 percent and reached $ 42,378 i.e. around Rs 3126627. Similarly, the price of Ether, the world’s second-largest cryptocurrency, fell by 8 percent.
The People’s Bank of China (PBOC) said in an online statement on Friday that “business activities related to virtual currency are illegal financial activities and criminals will be investigated for criminal liability in accordance with the law.”