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Seeking Alpha 2021-09-24 09:23:26

Bitcoin, Ethereum slide as China's central bank declares crypto transactions illegal

China's crackdown on cryptos is escalating, with the People's Bank of China taking aim at transactions and Beijing making more moves to curb mining, Bloomberg reports. Bitcoin (BTC-USD) is down 1.7% and Ethereum (ETH-USD) falling 6%. While specifics are sparse, according to Bloomberg the PBOC says all crypto-related transactions are illegal, crypto-related businesses are illegal financial activities and financials institutions are not allowed to provide services for crypto.

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