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© Reuters.
People’s Bank of China, the central bank of the country, claimed in a recent note that China’s share in the global (BTC) transactions has rapidly dropped from over 90% to 10%.
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The Financial Stability Bureau of the Chinese central bank released a comprehensive note on Wednesday discussing the impact of the crypto crackdown on the financial markets. The official notice claimed that all peer-to-peer exchanges in the country had been eradicated, which eventually curbed the hype around digital currency transactions.
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