China cryptocurrency ban has wreaked havoc on the market! This weekend the cryptocurrency market began to rebound after it had a rough couple of days. However, that day of green is far gone as China has added more to its country-wide firewall. The South China Morning Post reported this morning that the country has officially blocked all websites related to cryptocurrency both domestic and foreign. Sunday night, a representative from the People’s Bank of China said, “To prevent financial risks, China will step up measures to remove any onshore or offshore platforms related to virtual currency trading or ICOs.”

It’s no surprise that the major Chinese bank is helping lead the ban on cryptocurrencies. Many major banks around the world have felt the digital currency threat.

Featured Image: CoinMarketCap

Bitcoin (available on Coinbase) (BTC) has plummeted to two-month low today, currently selling under the $7,000 range. Mostly all of the cryptocurrencies have taken a beating, following this announcement from the Chinese government. Ethereum (available on Coinbase) (ETH) is currently down -19% in 24 hours, trading at $670.57.