China Declares All Virtual Currency Transactions “Illegal”, Sending Crypto Prices Tumbling

Assessment: China has no intention of allowing any currency it can’t control China expanded its escalating crackdown on cryptocurrencies on Friday when its central bank declared that all activities related to digital coins are “illegal” and must be banned. In a statement the People’s Bank of China said the latest notice was to further prevent the risks surrounding crypto trading and to maintain national security and social stability. “and that no one may buy or sell except