Business
China, the Fed and a threat of regulation roil financial markets – Sydney Morning Herald
Cryptocurrencies plunged and stocks and bonds were volatile after China announced a crypto crackdown, US lawmakers threatened to regulate the sector and the Fed…
It may have been a confluence of events, the first of which was a warning from Chinas authorities to the countrys financial institutions not to use or facilitate the use of cryptocurrencies for payments or trading.
Ostensibly the warning/directive to Chinas banks and consumers was driven by the authorities concerns about the financial risks of cryptocurrencies and their potential to be used in money-laundering.
China has been engaged in a more general crackdown on digital payments and the big technology…
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