Bitcoin price After falling rapidly to 60 thousand dollars, it is trying to return to the 2021 ATH level. It is unclear whether the decline is over, but we see such reversals after every rapid decline. We just saw that China announced successive decisions regarding cryptocurrencies.
China Cryptocurrencies Last Minute
China, which banned cryptocurrency mining and blocked crypto activities in 2021, has now made new decisions. Latest developments are as follows:
- China has banned the issuance of unapproved Yuan-linked stablecoins abroad.
- Chinese organizations and entities are banned from exporting crypto abroad.
- China has banned tokenization activities of real-world assets.
- China requests internet companies not to offer crypto services.
China reiterated that crypto business is illegal in the country. This week, US Treasury Secretary Bessent said China with cryptocurrencies He said that his big moves were approaching and that he was piloting his activities in the Hong Kong region. Trump also mentioned that they need to take action to avoid losing cryptocurrency dominance to China.
Now, while cryptocurrencies have suffered a major blow, China is announcing comprehensive bans.
