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In late May, China‘s financial-industry regulators placed extreme limitations on in the country. Immediately following the announcement, fell to $30,000  down 30 percent from where it had been before the announcement. With China being a major player in the global , its new restrictions on crypto are sending ripples across the world.

China’s tumultuous history with crypto

Chinese regulators have banned payment companies and financial institutions from offering clients any cryptocurrency-related services. Although citizens can still own cryptocurrencies through crypto exchanges, they can’t do much else with it. The new Chinese regulations require crypto to come with a warning for investors, noting the hazards…

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