Amid the ongoing cryptocurrency rout this week, a joint notice issued Tuesday by three Chinese financial self-regulatory bodies underscored the investment and legal risks involved with trading in virtual currencies, adding to downward pressure on prices.
Caixin
Does China plan an even tougher cryptocurrency crackdown?
Regulators warn of risk, sparking talk of stricter regulatory oversight
Bitcoin fell as much as 30% to $30,000 on May 19. Moves by financial regulators in China to tighten rules on cryptocurrencies added to the downward pressure. © Reuters
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