BREAKING NEWS: The People's Bank of China (PBoC) Says Banks Must Block Crypto Transactions
#BTC is currently trading at around $32K following more bearish news out of #China
* They also have to make sure to They must identify virtual-currency exchanges.
They will also need to cut off the payment link for transaction funds in a timely manner.
* Banks (in China mind you) are not to provide trading, clearing & settlement for crypto transactions
* Banks & Financial institutions have agreed to take necessary steps per the PBoC's guidelines
This is according to the PBoC, but only time will tell how affective this will be in slowing crypto usage.
imho - not very as the People in China can always use foreign banks through a #VPN to circumvent this.
Read the article here: