Is China’s Digital Yuan The Death Knell For Crypto?

The People’s Bank of China, the country’s central bank, has announced that all transactions of crypto-currencies are illegal, effectively banning digital coins.

“Virtual currency-related business activities are illegal financial activities,” the bank said. It added that cryptocurrencies, including Bitcoin and Tether, are not fiat currencies and cannot be circulated.

Source: https://finance.yahoo.com/news/china-digital-yuan-death-knell-150000652.html