The People’s Bank of China also said it would prevent financial institutions, payment companies and Internet companies from promoting cryptomen trading and strengthen monitoring of the risks arising from these activities. Bitcoin prices fell nearly 5% on Friday after China’s central bank said it would take action against cryptome trading and ban overseas exchanges from serving investors in China. The biggest digital currency fell 4.6% to $ 42,874 (€ 37,597.52) on Friday. Smaller currencies, which are commonly traded in tandem with bitcoins, also headed downwards, with ethereum down 8% and XRP down 7%. The People’s Bank of China also said it would prevent financial institutions, payment companies and Internet companies from promoting cryptomen trading and strengthen monitoring of the risks arising from these activities. Shares in cryptocurrencies and shares of blockchain-related companies also came under pressure, with shares of US-registered Riot Blockchain, Marathon Digital and Bit Digital falling in the range of 4.1% to 5.1%. Earlier this year, Chinese authorities said they would crack down on cryptocurrency mining and trigger massive sales of bitcoins and other digital currencies.