coindesk.com
Bitcoin trimmed early gains after the People’s Bank of China (PBOC) reiterated its long-held anti-crypto stance, warning institutions against providing services to crypto-related companies.
- China's central bank closed down a Beijing-based company providing software services for virtual currency transactions and reiterated that no institution under its jurisdiction should engage in such transactions.
- Bitcoin fell from $35,100 to nearly $34,000 after the news started doing the rounds on Twitter about 30 minutes ago.
- Both the PBOC and the Chinese government stepped up their anti-crypto rhetoric in May, adding to bearish pressures around the cryptocurrency.