China has reportedly doubled down on its crypto crackdown with a public reminder stating that Bitcoin (BTC) and other digital currencies “are not legal tender and have no actual value.” In a local media briefing, Yin Youping, the deputy director of the Financial Consumer Rights Protection Bureau of the People’s Bank of China (PBoC), said the central bank will maintain a “high-pressure situation” and continue to crack down on digital currency-related transactions. At the briefing session, which was coincidently held during China’s “Financial Knowledge Popularization Month,” Youping stated that digital currency-related transactions are pure investment hype. Youping said that the...