Corrected: Bitcoin drops after PBOC said cryptocurrencies are not legal tender

An earlier mentation of this nonfiction attributed comments to an official. It was a China cardinal slope report. The nonfiction has been corrected.

Cryptocurrencies came nether unit connected Friday aft the People's Bank of China reportedly said integer currencies are not ineligible tender successful the country. "Virtual currency-related concern activities are amerciable fiscal activities," the People's Bank of China (PBOC) said successful an online connection Friday, according to media reports. The authorities volition "resolutely clamp down connected virtual currency speculation, and related fiscal activities and misbehaviour successful bid to safeguard people's properties and support economic, fiscal and societal order," it said. Bitcoin BTCUSD, -6.65% dropped implicit 3% and Ether ETHUSD, -11.69% dropped 7%.