As of 10:21 London time, the world’s largest virtual currency fell 9% to US$32,430. Ether fell 10% to US$2,024.
The People’s Bank of China issued a press release on Monday stating that it has recently interviewed the Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank of China, Industrial Bank, and Alipay (China) with limited internet technology regarding banks and payment institutions providing services for virtual currency trading Companies and other banks and payment institutions. This move is aimed at combating Bitcoin and other virtual currency trading hype and maintaining financial security and stability.
According to people familiar with the matter, Ya’an City in Sichuan Province has assured relevant provincial departments that all Bitcoin and Ether mining companies will be cleaned up within one year.
After the Fed’s policy stance turned to hawks last week, the market’s interest in risky assets has diminished. “If, as I expected, the global trend of buying everything this week cools down further, then Bitcoin will feel the cold wind,” Oanda Asia Pacific Pte. Said Jeffrey Halley, senior market analyst at.
Some commentators said that with increasingly strict regulations, China’s computing power-the computing power used for mining and processing blockchain transactions-is waning