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Bitcoin is tanking following a reiteration from China's central bank that financial institutions cannot provide cryptocurrency services.

In a statement published online, the People's Bank of China warned against institutions and businesses from engaging in any form of virtual currency transactions.

Bitcoin is tanking following a reiteration from China's central bank that financial institutions cannot provide cryptocurrency services. In a statement published online, the People's Bank of China warned against institutions and businesses from engaging in any form of virtual currency transactions.

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[–] [deleted] • 3 pts

The CCP already banned Bitcoin for personal use years ago when some anti-CCP material was embedded on its blockchain.

https://i.ibb.co/Sytnxr7/Tank-Man-On-BTCblockchain.jpg

The ability to embed uncurated information is its Achilles heel:

https://poal.co/s/CryptoCurrency/331880

[–] • 2 pts

That's true thanks

[–] [deleted] • 2 pts

You are welcome. The Anti-CCP information being embedded was the result of one person suggesting it to both regular Bitcoiners and Chinese dissidents (who actually embedded lengthy messages exposing CCP crimes such as the Tiananmen Square Massacre). I happen to know exactly who was behind this ;-)