Why is China trying to kill Bitcoin? Business News


itcoin has taken a number of hits from different angles in recent weeks. The carbon footprint of cryptocurrency is increasingly alarming. Its most prominent backer, Elon Musk, hesitated. But the most painful blow this week came from the Chinese government.

Beijing regulators on Wednesday tightened restrictions on its domestic financial institutions, warning banks and other financial firms not to accept cryptocurrencies as a form of payment and banning them from offering services and products related to the market. cryptography.

The new controls have lowered the exchanged value of the tokens by up to 30%.

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This notice was published: 2021-05-20 20:30:52