bitcoin and other major currencies fell on Thursday as China expanded the ban on the digital currency industry to Guangzhou, where commercial sites were banned from hosting events on digital currencies.
Petcoin dropped 0.34 percent to 7,012.8 dollars at 12:55 am ET (0455 GMT) on the Petevex exchange.
Ethrium also fell 2.15% to $ 286.08 on the Bitfinx exchange.
XRT traded at $ 0.34019, down 1.4% in the last 24 hours on the bourse, while ltcwin dropped 2.31% to $ 60.86 on the bintex.
The Chinese government continued crackdown on digital assets by banning all hidden promotion activities in Guangzhou.
The news came after Baidu, the China-based multinational technology giant, asked to close online digital-related chat rooms earlier this week.
According to a statement issued by the Guangzhou Development Zone, the ban was the latest attempt by the regulator to protect the financial interests of the public.
The Chinese government remained determined to ensure the legal status of the yuan, prevent money laundering and maintain the stability of the financial system.
bitcoin is expected to reach $ 25,000 by 2020
Beijing began crackdown on the digital currency industry since last September, including Beijing's ban on digital events, the WeChat social networking platform blocked many accounts for encryption and aggregated accounts in August, while Tencent, the Internet giant, No longer allow demo trading on its platform. Alibaba also said it would restrict or prohibit accounts that are involved in digital currency trading.
In other news, it is reported that Russian regulators are considering the classification of unlicensed projects as an adventure as criminal activities.
Earlier this year, President Vladimir Putin said the central bank would not accept any currency offer not supported by a base currency.
According to the BBC, the Russian Federal Financial Supervision Department is looking to track trading transactions in the same way, especially in Betcuen, in the light of fraud schemes, money laundering and terrorist financing.
Former German Chancellor Putin said that because of his anonymity and inability to find correct sources of transactions, digital currencies are used in gray areas. Legislators in many countries are also concerned about this phenomenon, which was confirmed by the analysis we conducted on behalf of the president.
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