A regulation drafted by People’s Bank of China — China’s central bank — and other Chinese government institutions states that any organization or individual is not allowed to provide internet marketing services for illegal financial activities, which include “virtual currency transactions this draft will be open for public discussion on January 31.
China started banning bitcoin mining because of environmental issues and then they also started to ban crypto by declaring that all cryptocurrency transactions illegal. This will definitely affect the crypto currency market big time since there're a lot of crypto holders are from China.
