While Cuba joined El Salvador in officially adopting the use of cryptocurrencies, China once again lashed out at this electronic currency, ensuring that they will impose sanctions on those who use Bitcoin for lacking real value. Bitcoin and other cryptocurrencies “They are not legal currencies and they have no real value to back them up”, assured the Deputy Director of the Financial Consumer Rights Protection Office of the People’s Bank of China (PBoC) Yin Youping. According to a report by the government news outlet People’s Daily Online, Youping said that cryptocurrencies are purely speculative assets. The official also recommended that…