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Author Topic: Bitcoin Trims Gains as PBOC Steps Up Crypto Crackdown  (Read 404 times)

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Bitcoin Trims Gains as PBOC Steps Up Crypto Crackdown
« on: July 06, 2021, 02:05:28 PM »
Bitcoin trimmed early gains after the People’s Bank of China (PBOC) reiterated its long-held anti-crypto stance, warning institutions against providing services to crypto-related companies.

China's central bank closed down a Beijing-based company providing software services for virtual currency transactions and reiterated that no institution under its jurisdiction should engage in such transactions.
Bitcoin fell from $35,100 to nearly $34,000 after the news started doing the rounds on Twitter about 30 minutes ago.
Both the PBOC and the Chinese government stepped up their anti-crypto rhetoric in May, adding to bearish pressures around the cryptocurrency.

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Bitcoin Trims Gains as PBOC Steps Up Crypto Crackdown
« on: July 06, 2021, 02:05:28 PM »

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