Bitcoin prices fell sharply again on the news and are on course for weekly losses of more than 15%, as is Etherium. Investor protection and. The news comes amid a broader crackdown on the crypto industry in China. announced a new ban on Bitcoin and other cryptocurrency mining. The most recent news about crypto industry at Cointelegraph. Latest news about bitcoin, ethereum, blockchain, mining, cryptocurrency prices and more. EMANYARA INVESTING IN GOLD

Treasury Secretary Janet Yellen. Leah Millis Reuters Treasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public. Elon Musk 's Tesla recently made a substantial purchase and has said it will accept bitcoin for transactions. However, Yellen said there remain important questions about legitimacy and stability.

It's an extremely inefficient way of conducting transactions, and the amount of energy that's consumed in processing those transactions is staggering. In brief China has arrested 1, people for laundering the proceeds of crime with cryptocurrency. The announcement was made by China's Ministry of Public Security.

On Wednesday, the Chinese Ministry of Public Security said that it has arrested about 1, individuals for laundering money through cryptocurrencies. The money launderers allegedly charged a commission of 1. The Ministry did not provide details over how much money was laundered, nor which trading platforms were used.

The money earned came from illicit telephone and Internet scams, per the government body.

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