China issues warning for crypto traders amidst Bitcoin bears

People’s Bank of China (PBoC) has issued a warning for crypto-related businesses operating in the country. Chinese central bank issues warning for crypto users Bitcoin bears seem to have taken control of the markets as price nosedives by nearly 3,000 dollars in just one month. The price was close to 10,000 dollars when China’s president Xi Jinping called the country to support blockchain adoption; however, since then, Chinese policies have taken a turn for the worse. China appears to follow a policy of “Blockchain not Bitcoin”, and while things are looking good for blockchain, they certainly aren’t for crypto assets.