Ethereum drops more than Bitcoin as China escalates crypto ban, ETH/BTC at 3-week low
Cointelegraph
Published Sep 24, 2021 09:20AM ET
Updated Sep 24, 2021 03:40PM ET
The price of Ethereum's native token Ether (ETH) crept lower Friday after China extended its crackdown on cryptocurrencies by deeming their transactions to be "illegal."
"Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies," the People's Bank of China said in a statement on its website Friday, adding that online crypto services to Chinese residents offered by offshore exchanges are also "illegal financial activities."
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Written By: Cointelegraph
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