China banned trading Cryptocurrency in 2019. Earlier this year, China told banks and payment platforms to stop facilitating transactions and issued bans on crypto mining. Now, China has announced that ALL cryptocurrency transactions are illegal. The Chinese announcement caused an immediate decline in the market. The market has since made a modest rebound. What the long term effects the China ban will have remains to be seen..
Steven A. Leahy is a tax attorney in Illinois. He was the host of the long-running popular Radio Show “The IRS Radio Hour” heard every Sunday evening on AM 560 The Answer. Attorney Leahy is also the author of the book “Deal With Your IRS Problems Today!” You can get a FREE copy of this important book at FreeIRSBook.com. Or Call 24/7 (312)664-6649
