Virtual currencies should not and cannot be used in the market because they’re not real currencies, according to a notice posted on the PBOC’s official WeChat account.
BITCOIN and other major cryptocurrencies slumped after the People’s Bank of China reiterated that digital tokens can’t be used as a form of payment.
The largest token fell as much as 2.3% to $42,309 in early Asian trading Wednesday, continuing a weeklong slide sparked by Elon Musk’s back-and-forth comments on Tesla Inc.’s holdings of the coin. Ether, Dogecoin and last week’s sensation, Internet Computer, also retreated.
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