China’s crypto ban may reveal digital yuan CBDC goals By Cointelegraph

Chinese language regulatory authorities gave one more shock to the cryptoverse by imposing a ban on all cryptocurrency transactions on Sept. 24. This measure got here simply because the market was starting to get better from the federal government’s June prohibition on cryptocurrency mining actions.

The concern, uncertainty and doubt (FUD) that resulted from the ban prompted (BTC) to crash practically 9% inside 5 hours, from exchanging arms within the $45,000 vary to bottoming out at $41,142. Quickly after, Alibaba (NYSE:) introduced that it might be banning any sale of cryptocurrency rigs and associated equipment beginning Oct. 8.