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Bitcoin drops as China declares all crypto activity illegal

Chinese authorities are continuing a clampdown on less centralised areas of the financial sector
Bitcoin drops as China declares all crypto activity illegal
  • Beijing has announced all activity relating to digital coins is now “illegal”, intensifying recent restrictions on cryptocurrencies
  • The move could further perturb investors amid a crackdown on finance and tech companies in China

Crypto bulls often say bitcoin is heading “to the moon”. Now they can’t even send it to China legally. 

In a potentially damaging blow for cryptocurrencies, Beijing declared on Friday that all activity relating to digital coins is now “illegal”. 

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