People’s Bank of China calls on citizens to abandon BTC

by in Cryptocurrency News

China

In the spring, the Chinese authorities sharply increased pressure on companies representing the cryptocurrency industry.

At first, almost all miners came under pressure, and officials began to squeeze them out of the country. Then the crackdown on cryptocurrency services began, and Beijing banned banks from cooperating with such platforms.

At the end of this week, the People’s Bank of China again turned to citizens and urged them not to buy bitcoin and other cryptocurrencies.

Trending: Cardano Completed Its Vasil Hard Fork With Success

The representative of the regulator Yin Yuping pointed out the risks of investing in BTC. According to him, by buying virtual currency, a person jeopardizes their savings.

The official also recalled that bitcoin and similar coins cannot be used in China as a payment instrument.

The statement of the representative of the Halyk Bank was made against the background of the fall in the value of BTC and altcoins.