China’s Central Bank Says All Cryptocurrency Transactions Are Illegal
Here's the report by Siladitya Ray Updated Sep 24, 2021, 06:19am EDT
Topline
"China’s central bank declared all cryptocurrency transactions illegal on Friday, banning overseas crypto exchanges from providing services to investors in the country as it continues its crackdown on cryptocurrencies by declaring all such transactions as illegal.
Key Facts
In an update on its website, the People’s Bank of China (PBOC) announced that it will ban financial institutions, payment companies, and internet platforms from facilitating cryptocurrency trading.
> The regulator also noted that it will step up monitoring of risks from activities related to cryptocurrency.
> The central bank also indends to establish a mechanism for early warning and stopping “hype” in crypto trading and mining activities.
As a result of the announcement, Bitcoin’s value dropped by as much as 4.5% on Friday while the value of Ether slumped by 6.5%
ZON21-00589 District 6. Within the 9300 to 9400 blocks of East Ray Road (north side), the 5000 to 5200 blocks of South Bradley Way (east side) and within the 9300 block of East Serenity Avenue (south side). Located east of Ellsworth Road and north of Ray Road. (9.12± acres). Site Plan Review. This request will allow for a multi-residential development within the Eastmark Community. Drew Olson, PCS Development, applicant; Premiere Multi-Family at Eastmark II LLC., owner.
Planner: Kellie Rorex Staff Recommendation: Approval with conditions
ZON21-00657 District 6. Within the 4900 to 5100 blocks of South Momentum (east side). Located east of Ellsworth Road and north of Ray Road. (10.49± acres). Site Plan Review. This request will allow for a multi-residential development within the Eastmark Community. Drew Olson, PCS Development, applicant; Premiere Multi-Family at Eastmark II LLC., owner.
Planner: Kellie Rorex Staff Recommendation: Approval with conditions
ZON20-00840 District 1. Within the 1000 block of East McKellips Road (south side). Located west of Stapley Drive on the south side of McKellips Road. (4.5± acres). Rezone from Single Residence 9 (RS-9) and Multiple Residence 4 (RM-4) to Multiple Residence 2 (RM-2) with a Planned Area Development Overlay (PAD); and Site Plan Review. This request will allow for a multiple residence development. Victoria Snively, United Realty MTA, applicant; Thomas Adhoot, owner. (Continued from September 8, 2021) Planner: Cassidy Welch Staff Recommendation: Approval with conditions
ZON21-00449 District 6. Within the 5400 block of South Power Road (east side). Located south of Ray Road on the east side of Power Road. (2.4± acres). Site Plan Review. This request will allow for the development of a restaurant with a drive-thru. Kevin Zenk, Sustainability Engineering Group, LLC, applicant; GS TRUST/5427 S POWER LLC, owner. Planner: Jennifer Gniffke Staff Recommendation: Approval with conditions
"China’s central bank declared all cryptocurrency transactions illegal on Friday, banning overseas crypto exchanges from providing services to investors in the country as it continues its crackdown on cryptocurrencies by declaring all such transactions as illegal. 
