Bans Are Coming From China One After Another!

The cryptocurrency market took another hit with the news flow from China on the first day of the week.

Bans are coming from China one after another. The cryptocurrency market, which started to decline over the weekend, was shaken by the news from China once again today. With the news that came while Bitcoin was around 36 thousand dollars, the price decreased to 32 thousand dollars within minutes. The first statement was actually made by the officials of the Agricultural Bank of China, not the officials of the Central Bank of China. The Agricultural Bank of China, which is the third largest bank in the world, made a statement on Monday and announced that it will suspend the accounts of those who make cryptocurrency transactions from now on. Although this statement was later withdrawn, a statement was made from the Central Bank of China later on.

New Ban Regarding Bitcoin

According to the latest information obtained, the bank stated that from now on, measures such as not opening an account, not making transactions and not intermediating in trading transactions will be taken for those who trade and speculate on cryptocurrencies. This indicates that the stricter full ban that India once implemented will be implemented in China. This ban on account opening, registration, transaction, clearing and accounting services to banks in China can seriously affect cryptocurrency investors. Cryptocurrency investors will have the option to buy and sell BTC only OTC or peer-to-peer in the continuation of this situation. This news hit the markets hard. The 19.70% depreciation of the Bitcoin price in the last 7 days indicates that the danger will continue.