A definitive blow against cryptocurrencies?

The declaration of the People’s Bank of China (BPC) that all activity related to cryptocurrencies, including transactions, mining and their advertising, is “illegal and criminal”, has raised speculation about whether those currencies, which plummeted after the announcement. , will stop operating in the Asian country.

On Friday afternoon, the central bank and nine other government institutions – including the internet regulator or the ministry in charge of intelligence work – listed in a statement the “illegal and criminal” activities generated by “currency transactions. virtual “.

Regulators specifically targeted money laundering, illegal fundraising, fraud or pyramid schemes, ensuring that these types of crimes carried out with cryptocurrencies “seriously endanger” the properties of citizens.

The BPC specifically mentioned bitcoin and Ethereum, as well as other “virtual currencies issued by non-monetary authorities”, to remember that their status is not the same as that of legal tender currencies and that, therefore, “they cannot circulate as currency “.

The document also requires the country’s local authorities to “strengthen supervision” in order to prevent and eliminate “the risks of speculation.”

After the news, bitcoin fell 8.6% and ethereum, 9.27%, falls that in the following hours moderated to around 6% in both cases.

Industry experts cited by the specialized portal Coindesk affirm that it is, at least, the seventh time that Beijing has taken restrictive measures against virtual currencies such as bitcoin since 2013.

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