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Bitcoin Trending Lower in Lieu of China’s Crypto Crackdown

Bitcoin registered a series of lower price highs Friday, at one point shaving off $4,000 and meeting resistance at $41,000 following China’s renewed anti-crypto stance. The People’s Bank of China said bitcoin, ether and stablecoin tether do not qualify as legal tender and cannot be used in the currency market.

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Crypto Markets Jolted by China Central Bank’s Crypto Ban

The crypto markets continue to slide following China's declaration of cryptocurrency-related businesses as illegal. CoinDesk's Christie Harkin and Brad Keoun discuss the potential market impact China could have in the short-term, expanding on why this latest crypto ban could be its most severe to date. Plus, their takes on Tuesday's Evergrande scare, JPMorgan's CME trading analysis, takeaways from the Mainnet conference, and Twitter's crypto developments.

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What's Next for Crypto Markets Following China's Crypto Crackdown

CoinDesk Tech Managing Editor Christie Harkin discusses where the crypto markets could be headed next week as China tightens its crypto mining crackdowns and bans trading. Plus, CoinDesk's Markets Managing Editor Brad Keoun discusses his markets outlook since Federal Reserve Chair Jerome Powell signaled tapering could happen at the Fed's next meeting in November.

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La última prohibición de Cripto en China es la más severa, según fuentes internas

Las personas que viven dentro de China pero trabajan para intercambios de Cripto offshore pueden estar sujetas a procesamiento legal.

People's Bank of China (Emmanuel Wong/Getty Images)

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Why China’s Crypto Crackdown Is ‘Not the End of Bitcoin At All’

The People’s Bank of China announced Friday virtual currency-related business activities are illegal, warning they seriously endanger the safety of its citizens’ assets. Bitcoin slipped below $42,000 after the news and is down about 3% over the past 24 hours.

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Merkado

Bitcoin tiende a la baja por la represión de China, con soporte entre $36,000 y $40,000

BTC registró una serie de máximos de precios más bajos este mes a medida que los compradores toman ganancias.

Bitcoin daily price chart (CoinDesk, TradingView)

Patakaran

China endurece las medidas contra la minería de Cripto y prohíbe su comercio.

Los principales reguladores del país no han terminado con las Cripto.

People's Bank of China

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How the Crypto Crackdowns in China and US Are Different

China's central bank outlawed all crypto trading activities effective Friday as U.S. federal regulations are also increasingly coming into focus. What are the similarities and differences between the U.S. and China's crypto crackdowns? "[U.S. regulators] are trying to implement an actual regulatory regime ... that's a far sight from declaring transactions illegal entirely, and it does not look like the U.S. is heading down that path," CoinDesk's Nikhilesh De said. Plus, Kentucky ordered crypto lender Celsius to stop offering accounts in the U.S. state.

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