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.