A joint statement from Beijing's National Internet Finance Association of China, the China Banking Association, and the Payment and Clearing Association of China: "Recently, crypto currency prices have skyrocketed and plummeted, and speculative trading of cryptocurrency has rebounded, seriously infringing on the safety of people's property and disrupting the normal economic and financial order."According to Reuters, the three regulators - in addition to the above warning about trading in cryptos - have teamed to ban financial institutions from facilitating cryptocurrency transactions.The news appears to have ended a modest bounce today in bitcoin (BTC-USD), and sent the popular crypto back close to the lows of yesterday, currently trading a few dollars above $43K.The Grayscale Bitcoin Trust (GBTC) is off 2.7% today.Recall the quick dive for bitcoin in March on news of a proposed India ban.
