China Crypto Ban Scares Market…Again

Reading Time: 2 minutes China has scared some members of the cryptocurrency community by reinforcing its ban on crypto usage China has effectively banned cryptocurrencies since 2013 Bitcoin dropped $5,000 on the news but has already recovered half its losses The cryptocurrency markets were spooked yesterday when China declared all crypto transactions illegal…again. Bitcoin dropped from $45,000 to $40,000 following the publication of a note from the Chinese government reinforcing the illegality of cryptocurrency transactions, a stance it has effectively held since 2013. While mainstream media outlets reacted with typical exuberance at the news as if it was fresh and not eight years old,
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