The total market capitalization of all cryptocurrencies across the industry—essentially the combined price of all tokens in circulation—decreased by nearly 5% today after the Chinese government again made clear its negative stance toward digital assets.
“Recently, virtual currency trading hype activities have risen, disrupting economic and financial order, breeding illegal and criminal activities such as gambling, illegal fundraising, fraud, pyramid schemes, and money laundering,” the Chinese government said.
Chinese Government Reiterates That Crypto-Related Business Activities Are ‘Illegal’
Though this is not the first time China has condemned crypto, the prices of the vast majority of coins dropped nonetheless, only exacerbating the recent global market fears caused by a potential collapse of China’s property giant Evergrande.
At the time of writing, the price of Bitcoin has fallen by about 4.2% on the day, with the cryptocurrency trading at around $42,392.
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Źródło: https://decrypt.co/81810/bitcoin-ethereum-drop-china-intensifies-crypto-crackdown
