in last September cryptocurrencies, including crypto mining prohibiting all transactions related to Chineseannounced the consequences of these bans.
In the statement made by the People’s Bank of China (PBOPC), the worldwide bitcoin The percentage of transactions decreased to 10%, in this context also cryptocurrency He said the transaction was successfully stopped.
PBOPC, Cryptocurrency trading and mining Defining the bans as “a comprehensive cleaning and correction of the financial order”, he included the following statements in his statement:
“China has effectively curbed the hype of virtual currency trading, and the global share of Bitcoin transactions in China has rapidly dropped from 90% to 10%.”
Stating that it has further squeezed illegal financial activities such as unlicensed financing and unlicensed driving, the People’s Bank of China said special operations were carried out to prevent illegal fundraising.
Bank of China: “Bitcoin Has No Value!”
Bank of China Yin Youping, deputy director of the Financial Consumer Rights Protection Bureau, said:
“We remind people once again that digital currencies like Bitcoin have no legal currency and no real value.”
The People’s Bank of China also announced last year that despite the increasing popularity of cryptocurrencies, Bitcoin and cryptocurrencies have no value.
Banning cryptocurrency trading and mining, China later became the country’s digital currency. “digital yuan” accelerated his work. In this context, China continues to take firm steps in this regard by using the digital yuan during the Beijing Winter Olympic Games.