News of China’s Crackdown on Crypto Crash Bitcoin (BTC) By Cryptovest

© Reuters. News of China’s Crackdown on Crypto Crash Bitcoin (BTC)

(BTC) saw no stop to its slide, and it was only exacerbated by events in China, cracking down on local projects deemed illegal. The moves against projects claiming crypto activities in Shenzen managed to affect even the leading coin.

Dovey Wan, co-founder of Primitive Crypto and observer of trend and news in China, has noted the effect of recent fears about authorities cracking down on cryptocurrency projects. The biggest effect followed a message from People’s Bank of China, most generally saying a crackdown is expected against “cryptocurrency trading”.

Wan explained that the nuance suggested PBOC may scrutinize illegal token sales. In the past, she has noted Chinese nati…

This article appeared first on Cryptovest

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