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Ethereum drops more than Bitcoin as China escalates crypto ban, ETH/BTC at 3-week low

CoinTelegraph
 26 days ago

Cover picture for the articleThe price of Ethereum's native token Ether (ETH) crept lower Friday after China extended its crackdown on cryptocurrencies by deeming their transactions to be "illegal." "Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies," the People's Bank of China said in a statement on its website Friday, adding that online crypto services to Chinese residents offered by offshore exchanges are also "illegal financial activities."

cointelegraph.com

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