Cryptocurrency crackdown by China is about more than the 'safety of people's property'
May 20, 2021 at 17:55 PM EDT
On Wednesday China echoed previous announcements, making clear in no uncertain terms that financial institutions and payment companies should not participate in any cryptocurrency-related transactions or services. The comments helped send the price of Bitcoin plummeting to its lowest price since January – $30,066,-- before recovering Thursday at around $41,000.