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Bitcoin-Kurs aktuell: Bitcoin stabilisiert sich weiter
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Will crypto including Bitcoin, Dogecoin, Ethereum recover after massive price dip?
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The People s Bank of China s said financial and payment institutions should not accept cryptocurrencies as payment or offer services and products related to them.
Three state-backed organisations – the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China – also issued a warning.
They said consumers would have no protection if they lost from cryptocurrency investment transactions, adding that the virtual currency is not a real currency .
And they warned that recent wild swings in prices seriously violate people s asset safety and are disrupting the normal economic and financial order . The Chinese have historically taken a hard line on cryptocurrency trading, worried that it encourages money laundering.
Bitcoin tumbles below $39,000
Business
May 20, 2021
Beijing: Bitcoin plunged below $39,000 for the first time in more than three months on Wednesday after China said cryptocurrencies would not be allowed in transactions and warned investors against speculative trading in them.
The comments sent the unit diving more than 10 percent and dealt it another blow soon after being battered by comments from tycoon Elon Musk and his Tesla car company.
Trading in cryptocurrencies has been banned in China since 2019 to prevent money laundering as leaders try to stop people from shifting cash overseas. The country had been home to around 90 percent of the global trade in the sector.