Express
Bank Of China Posts Continues Anti-Cryptocurrency narrative.
Summary: On Sunday, the Bank of China posted a warning to users about the dangers of cryptocurrency on their WeChat account. In the post, bank officials warned investors about three mains scams that the can be seen on cryptocurrency exchanges. The Bank said, “First of all, the amount of fraud transactions with bots is serious. The ...
On Sunday, the Bank of China posted a warning to users about the dangers of cryptocurrency on their WeChat account.
In the post, bank officials warned investors about three mains scams that the can be seen on cryptocurrency exchanges.
The Bank said, “First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.”
By Ramsey Baker
Tags: Bank of China,Cryptocurrency,warning,WeChat
Link: Bank Of China Posts Continues Anti-Cryptocurrency narrative. [Copy]
