Cryptocurrency
Investing.com -- China’s central bank announced Friday that it will further tighten restrictions on virtual currencies and related business activities.
In a notice released by Chinese authorities, the central bank emphasized that "virtual currencies do not have the same legal status as fiat currencies" and declared that business activities related to virtual currencies are "illegal financial activities."
The statement also specified that "domestic entities and their... (continue reading...)
China has banned domestic entities from issuing unapproved cryptocurrencies overseas, according to a statement from the People's Bank of China reported by Xinhua news agency.
The central bank specifically prohibited Chinese entities and their subsidiaries from issuing yuan-linked stablecoins abroad without proper authorization. The statement represents an extension of China's domestic cryptocurrency restrictions to overseas... (continue reading...)
China Bans Unapproved Yuan-linked Stablecoin Issuance Overseas - Bloomberg
Bitcoin Hits Low at $64,944
- Bitcoin is down 10% today and about 50% from highs.
By Hannah Lang
Feb 5 (Reuters) - Turbulence in the cryptocurrency market is dragging down shares of companies that hold bitcoin and other digital assets on their balance sheets, sparking concerns over potential broader strains in the sector.
The number of publicly traded companies investing in cryptocurrencies in the hope they would appreciate boomed last year.
Many were buoyed by U.S. President Donald Trump's... (continue reading...)
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