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The People’s Bank of China Bans Bitcoin, Again

The People’s Bank of China (PBOC) reposted a memo from September 15th that addresses the nation’s Bitcoin ban to their web site, inflicting widespread Bitcoin promoting and a Friday morning value dip.

The memo outlines a nation-wide crackdown on Bitcoin and different cryptocurrencies out of concern over them “disrupting economic and financial order, breeding illegal and criminal activities such as gambling, illegal fund-raising, fraud, pyramid schemes, and money laundering, seriously endangering the safety of people’s property.”

The People’s Bank of China has once more referred to as distinguished monetary establishments in China to reinforce an evolving country-wide ban on Bitcoin exchanges and transactions. The establishments have been urged to assist the central financial institution forestall Chinese residents from buying and selling Bitcoin by means of exchanges, each home and overseas, and over-the-counter platforms.

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