Express
Crypto Market Extends Losses After China Announcing A Crackdown On Bitcoin Mining And Trading
Summary: On May 21, Vice Premier Liu He presided over the 51st meeting of the Financial Stability and Development Committee of the State Council. The meeting mentioned that the government should strengthen the supervision of financial activities of platform enterprises, crackdown on Bitcoin mining and trading behavior, and prevent the expansion of individual risks. As soon as ...
On May 21, Vice Premier Liu He presided over the 51st meeting of the Financial Stability and Development Committee of the State Council. The meeting mentioned that the government should strengthen the supervision of financial activities of platform enterprises, crackdown on Bitcoin mining and trading behavior, and prevent the expansion of individual risks.
As soon as the news came out, the crypto market plunged collectively. At the time of writing, Bitcoin fell below $38,000 with a daily decline of 8.73%, Ethereum’s daily losses reached 13%, now trading at around $2,500. Except for stablecoins, the top ten cryptocurrencies fell across the board.
By Mary Liu
Tags: Bitcoin,China,Cryptocurrency
Link: Crypto Market Extends Losses After China Announcing A Crackdown On Bitcoin Mining And Trading [Copy]
