Bitcoin Has No Value: People Bank's Of China Official Announces Further Crackdown

Bitcoin (CRYPTO: BTC) and other cryptocurrencies "are not legal tenders and have no actual value support," according to Deputy Director of the Financial Consumer Rights Protection Bureau of the People’s Bank of China (PBoC) Yin Youping. What Happened: According to a report by local news outlet People's Daily Online, Youping said that cryptocurrencies are purely speculative assets.

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