China’s global share of bitcoin trading slashed to 10% from 90% before Beijing crackdown – PBOC

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China’s central bank said the country’s share of global bitcoin trading has been slashed to 10% from the peak of more than 90% before Beijing's crackdown.

The People's Bank of China (PBOC) said it was an achievement in keeping “financial risks” at bay as China had “effectively curbed the speculative culture of cryptocurrency trading domestically”, adding that it would continue to monitor the “chaos of digital finance”, including cryptocurrencies and peer-to-peer lending, on a regular basis.

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