Derived from BitcoinWorld, the People’s Bank of China (PBOC) issued a warning targeting illicit crypto activities, including unlicensed trading, fraud, and money laundering. The announcement, coordinated with other agencies, led to heightened market anxiety and approximately $400 million in exchange liquidations, according to a CNBC report. The market reacted swiftly, with Bitcoin prices falling amid leveraged positions being forced to liquidate, exacerbating the downward pressure.
PBOC Warns on Illicit Crypto Activities, Triggering $400M in Liquidations
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