The latest debacle over China’s anti-crypto stance has a firm historical echo to it — and old hands are more than aware. Bitcoin (BTC) dipped deeper to challenge $40,000 support during Sept. 24 as the dust settled on what analysts stressed was a false alarm from China. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView A…
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Bitcoin derivatives markets flipped neutral-to-bearish after China’s ‘crypto ban’ announcement triggered a BTC price dip to $40,600. China bans Bitcoin (BTC), again. No, we’re not traveling back in time. On Sept. 24, the People’s Bank of China (PBoC) published a new set of measures to promote inter-departmental coordination on cracking down on crypto activity. The…
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Since 2009, China and Hong Kong have “banned” or otherwise caused FUD in the crypto space on 18 separate occasions. The price of Bitcoin fell 5% today following “breaking” (read: weeks old) news that the People’s Bank of China, or PBoC, had declared all cryptocurrency transactions illegal. With that in mind, let’s take a nostalgic…
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REN, CELR and CVC ignore the market’s bearish reaction to China’s new crypto ban by posting double-digit gains. The bullish momentum that had been growing across the cryptocurrency ecosystem over the past few days came to a screeching halt on Sept. 24 as news that China had banned cryptocurrency transactions made the rounds on social…
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The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it had made in the past stressing that “financial institutions and non-bank payment institutions” cannot process crypto payments.…
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Old news suddenly gets picked up on social media, sparking an instant crypto price crash. Bitcoin (BTC) suddenly lost $2,000 in an hour on Sept. 24 as what appeared to be old news over a Chinese regulatory ban hit social media. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin vs. China: Don’t believe the “FUD”…
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PBoC maintains its anti-crypto stance despite local players experimenting with digital yuan-pegged stablecoins. The rapid adoption of cryptocurrencies like Bitcoin (BTC) poses a major challenge for the traditional financial system, an executive at the Chinese central bank has warned. Wen Xinxiang, director of the payment and settlement department at the People’s Bank of China (PBoC),…
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The Chinese central bank is setting up a “coordination mechanism” with state agencies to continue battling crypto. The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country. The People’s Bank of China (PBoC) officially announced on Friday a set…
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Nexi, a leading European payments company, is reportedly giving advice to the European Central Bank (ECB) related to the digital euro project. The announcement was made by Nexi’s CEO Paolo Bertoluzzo, who also gave his opinion about the future of central bank digital currencies (CBDC) and cryptocurrencies during the Money 20/20 fintech conference in Amsterdam.…
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The world is still focused on the financial downfall of China’s real estate giant Evergrande and according to Chinese authorities have told the private sector to get “ready for the possible storm.” Reports show that even though the People’s Bank of China already provided $18.6 billion in liquidity to ease the brunt, Beijing may not…
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