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2021-07-06

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Bitcoin Swings as China Regulators Punish Company Over Crypto

Bitcoin erased most of its gains Tuesday after China’s central bank and a regulator in the capital c

Bitcoin Swings as China Regulators Punish Company Over Crypto

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As of 6:26 a.m. in New York it was up 0.3% to $33,969.</p>\n<p>Financial and payments institutions should not directly or indirectly provide virtual currency-related services, the PBOC and the Beijing regulator said in a statement, adding that institutions should not provide locations, marketing, promotion and display services to virtual currency-related businesses.</p>\n<p><img src=\"https://static.tigerbbs.com/de56f6bcf9fc982c6aded31ba96611c1\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p>\n<p>China has increased its focus on the cryptocurrency industry, adding restrictions on mining, trading and other services, as well as issuing cautions to entities like banks that might facilitate such transactions. Many miners have shut down or are trying to move out of the country, and mining metrics have showed the decreased activity.</p>\n<p>The move came after some chart watchershad been eyeingthe 50-day moving average above $36,000 as a potential zone to see a bullish breakout. However, Bitcoin has been stuck in a range of about $30,000 to $40,000 for weeks after dropping from its record near $65,000 reached in mid-April.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Swings as China Regulators Punish Company Over Crypto</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin Swings as China Regulators Punish Company Over Crypto\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 19:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-06/bitcoin-swings-as-china-regulators-punish-company-over-crypto><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin erased most of its gains Tuesday after China’s central bank and a regulator in the capital city took action against a company that was allegedly providing cryptocurrency-related services.\nThe ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-06/bitcoin-swings-as-china-regulators-punish-company-over-crypto\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-06/bitcoin-swings-as-china-regulators-punish-company-over-crypto","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184051379","content_text":"Bitcoin erased most of its gains Tuesday after China’s central bank and a regulator in the capital city took action against a company that was allegedly providing cryptocurrency-related services.\nThe largest cryptocurrency had risen as much as 3.7% to $35,094 before dropping back after the People’s Bank of China and Beijing’s local financial regulator ordered a company in the city to cancel its business registration for allegedly providing software services to cryptocurrency trading. As of 6:26 a.m. in New York it was up 0.3% to $33,969.\nFinancial and payments institutions should not directly or indirectly provide virtual currency-related services, the PBOC and the Beijing regulator said in a statement, adding that institutions should not provide locations, marketing, promotion and display services to virtual currency-related businesses.\n\nChina has increased its focus on the cryptocurrency industry, adding restrictions on mining, trading and other services, as well as issuing cautions to entities like banks that might facilitate such transactions. Many miners have shut down or are trying to move out of the country, and mining metrics have showed the decreased activity.\nThe move came after some chart watchershad been eyeingthe 50-day moving average above $36,000 as a potential zone to see a bullish breakout. 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