currency transactions: In June, the leading cryprocurrency topped 9,000 for the first time in more than a year, eventually topping out above 13,000, according to Market Watch. The recent tumble is being attributed to China's recent announcement that it will crack down on crypto trading. The price of bitcoin BTCUSD, -2.89% was last around 6,850, according to Coindesk, after slumping about 24% over the past month. A statement by the People's Bank of China on Friday warned it was increasing supervision and control to combat virtual currency transactions. There has also been speculation in recent months that China is preparing to launch a state-run digital currency, though the PBoC denied such a report earlier this year. Investors should be careful not to mix blockchain technology with virtual currency, the central bank said, warning of the many risks of cryptocurrency trading.
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