(Bloomberg) — China’s bans all cryptocurrencies: Digital currencies sold off after China’s central bank said all cryptocurrency-related transactions were illegal, according to a Q&A statement on the People’s Bank of China’s website. Bitcoin, the largest digital coin, fell as much as 8.9%, while Ether lost near 13%. The Bloomberg Galaxy Crypto Index, a gauge of some of the most-prominent cryptos, lost as much as 11%. “It’s the latest move in a multi-year clampdown on Bitcoin and cryptocurrencies,” said Antoni Trenchev, managing partner and co-founder of Nexo, a crypto lender. “For now, Bitcoin can’t catch a break. Bitcoin is being bombarded from all sides.” Chen Arad, chief operating officer at crypto risk surveillance firm Solidus Labs said “Though China’s move is particularly dramatic, it reflects on similar concerns regulators globally are sharing surrounding crypto market integrity and its role in illicit activity. Manipulation and fraud is not unique to crypto but, as a new asset class, digital assets present new challenges and have more to prove to regulators and the public.” Shares of crypto-related stocks, including Marathon Digital Holdings Inc (NASDAQ: MARA) Riot Blockchain Inc and Coinbase Global, Inc. (NASDAQ: COIN) are trading lower amid a decrease in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). Bitcoin and other cryptocurrencies traded lower Friday. NN: This is the battle mankind faces….. Governments all of them seek to control our money, investments, movements, new and information. We are rapidly losing all our freedoms. Crypto currencies are the current whipping boy of governments, they seek to destroy what they do not understand. Illegal activities in crypto coins are minuscule. Most illegal transactions involve cash and corrupt banks…. which their are no shortage.