What's Hot

    Pavel Lerner, co-founder of the EXMO crypto exchange, was detained in Spain

    03.02.2023

    Key Ripple-Backed XRP Ecosystem Shut Down

    03.02.2023

    Kathy Wood called bitcoin the best financial insurance

    03.02.2023
    Facebook Twitter Instagram
    Friday, February 3
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Bitcoin»People’s Bank of China announces victory over bitcoin
    73e512274782f6ab675ad49cb752f5ec40a0154d
    Bitcoin

    People’s Bank of China announces victory over bitcoin

    AdministratorBy Administrator03.03.2022No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email



    The volume of bitcoin transactions in China has fallen to a minimum, thanks to the restrictive policy of the Central Bank. The regulator made a corresponding statement in the middle of the week.

    Recall that the Chinese authorities began last spring to oust not only miners from the market, but also crypto companies, including trading platforms. Banks were banned from servicing customer accounts linked to exchanges and other services.

    The Central Bank said that its policy has yielded results, and now bitcoin transactions in China account for only 10% of the total volume of cryptocurrency transactions made in the world.

    The Bureau of Financial Stability emphasized that all crypto exchanges were liquidated, due to which interest in digital currency in the country has sharply weakened.

    A note prepared by the regulator reads:

    The global share of bitcoin transactions in China quickly fell from over 90% to 10%. The Central Bank cracked down harshly on illegal financial activities and fundraising operations.

    Note that for the first time, the Chinese authorities banned banks from working with bitcoin back in 2013. This was followed by another ban in 2017, aimed at pushing crypto exchanges out of the country.

    The rate sharply tightened last spring, as a result, almost all the miners left China for other countries.




    #Peoples #Bank #China #announces #victory #bitcoin

    Announces Bank Bitcoin China Peoples victory
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    Kathy Wood called bitcoin the best financial insurance

    03.02.2023

    “Bitcoin is the only protection for money from inflation and currency devaluation”

    03.02.2023

    Sberbank to begin alpha testing of DeFi platform in March

    03.02.2023

    Bitcoin community considers 4 MB blocks to be stupid

    03.02.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • Pavel Lerner, co-founder of the EXMO crypto exchange, was detained in Spain
    • Key Ripple-Backed XRP Ecosystem Shut Down
    • Kathy Wood called bitcoin the best financial insurance
    • ​User paid a fee of $32,000 for a transfer on the Ethereum network
    • Twitter Suspends Doge Tipping Tool
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.