China’s global share of bitcoin transactions drops to 10 per cent after cryptocurrency crackdown

Source: Tech – South China Morning PostChina’s central bank said the country’s share of global bitcoin trades has fallen to 10 per cent from more than 90 per cent before its crackdown on the “speculative culture” of virtual currencies.The People’s Bank of China, which regards cryptocurrencies as a potential threat to financial security and capital controls, said China’s proportion of global bitcoin trading has dropped to 10 per cent from the peak of more than 90 per cent before Beijing turned hostile towards virtual currencies.The…Read More

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