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Bitcoin falls 4.5% after China vows crackdown on cryptocurrency trading

China's central bank said all cryptocurrency-related transactions are illegal, according to a Q&A statement on PBOC's website

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Bitcoin, Ether and other digital tokens tumbled as China intensified its push to rein in crypto speculation and mining. 

Bitcoin fell about 4% to $42,900 as of 10:39 a.m. in London. The losses were more severe in other coins, with Ether, EOS, Litecoin and Dash all falling more than 7%. Crypto-related stocks also came under pressure, with Marathon Digital Holdings Inc. tumbling 6% in U.S. pre-market trading. 

China’s central bank said all cryptocurrency-related transactions are illegal, according to a Q&A statement on PBOC’s website. It’s an urgent task for China to root out crypto mining and the crackdown is important to meet

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : Bitcoin

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First Published: Sep 24 2021 | 3:04 PM IST

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