China Bans All Cryptocurrency Related Transactions

Bloomberg, which has been showing signs of slow recovery in recent days on cryptocurrency markets made a remarkable statement. Citing an article on the website of the People’s Bank of China, the news source said that the Chinese government’s policy on cryptocurrencies prohibits all transactions announced. This led to the red painting of all crypto money prices, especially Bitcoin.

As a matter of fact, the statement made by the People’s Bank of China is not the first. Apparently it won’t be the last. The government, which has been against crypto money for a long time, has also banned mining in its previous statements. The latest statements reiterated the government’s view on cryptocurrencies. it reminded.

Bitcoin fell to $ 42 thousand after the announcement

According to the statement made by the People’s Bank of China, it is possible to make transactions related to crypto money within the country. completely banned. In addition, companies with headquarters in other countries are also prohibited from providing services in China. Bitcoin, which started to lose value immediately after this statement, fell from the levels of 45 thousand dollars. dropped to $42,000..

The data we received from Coinmarketcap shows that the situation in the markets is seriously annoying reveals that. Because all of the world’s 10 most popular cryptocurrencies went upside down after the announcement. In this context dogecoin, with 8.9 percent decline, became the most depreciated name of the 10 most popular cryptocurrencies.