China’s Crypto Crackdown: Fundamentals Still Show Bull Market Continuation, Bobby Lee Says ‘Don’t Panic’

The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it had made in the past stressing that “financial institutions and non-bank payment institutions” cannot process crypto payments. […]