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China Declares Crypto Transactions Illegal, Sending Bitcoin Lower

China Declares Crypto Transactions Illegal, Sending Bitcoin Lower

China’s central bank said all cryptocurrency-related transactions are illegal, reinforcing the country’s tough stance against digital rivals to government-issued money.

In a statement published on Friday afternoon by the People’s Bank of China, it stated that the new notice was meant to prevent further risks associated with crypto trading as well to preserve national security and stability.

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