A representation of bitcoin is seen in this picture illustration taken October 19, 2021. Photo: Reuters
China’s global share of bitcoin transactions drops to 10 per cent after cryptocurrency crackdown
- The central bank said it had curbed the ‘speculative culture of cryptocurrency trading domestically’, and that it would continue to monitor the situation
- As early as 2013, regulators had banned Chinese banks from dealing in bitcoin, which sold for less than US$1,000 at the time, a fraction of today’s US$41,000
A representation of bitcoin is seen in this picture illustration taken October 19, 2021. Photo: Reuters