Bitcoin Trims Gains as PBOC Steps Up Crypto Crackdown
- Date: 06-Jul-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Bitcoin Trims Gains as PBOC Steps Up Crypto Crackdown
Bitcoin trimmed early gains after the People’s Bank of China (PBOC) reiterated its long-held anti-crypto stance, warning institutions against providing services to crypto-related companies.
China’s central bank closed down a Beijing-based company providing software services for virtual currency transactions and reiterated that no institution under its jurisdiction should engage in such transactions.
Bitcoin fell from $35,100 to nearly $34,000 after the news started doing the rounds on Twitter about 30 minutes ago.