China's Cryptocurrency Ban: What It Means for Bitcoin, Coinbase and the US -

"On Sept. 24, China's Central Bank declared all crypto-related transitions illegal, citing concerns about gambling fraud and money laundering."

Why this is important: On September 24, China continued its long string of crackdowns on cryptocurrency by declaring that all crypto-related transactions are illegal. China is a large player in crypto mining with approximately one-half of all mining traditionally occurring there. The U.S. government hasn't officially responded to China's move, but members of Congress have expressed their support for cryptocurrency and characterized China's crackdown as an opportunity for the U.S. The article doesn't discuss this, but one wonders if China's crackdown is in any way related to its development and testing of a digital yuan and the desire to export its own digital currency beyond its borders.