China Crypto Ban Is Big Opportunity for U.S., Key Senator Says
(Bloomberg) -- China’s crackdown on cryptocurrency transactions “is a big opportunity for the U.S.”, according to Pat Toomey, the top Republican on the Senate Banking Committee.
China’s central bank banned all crypto-related transactions, including services provided by off-shore exchanges. The People’s Bank of China said on its website that cryptocurrencies including Bitcoin and Tether are not fiat currency and cannot be circulated.
©2021 Bloomberg L.P.