The currency circle is not peaceful recently. Under the influence of multiple factors, the price of bitcoin reappeared in a big dive. According to British financial data, as of 18: pm on May 13th, the price of Bitcoin was reported at $49,972, which fell below the $5, mark, about 11% lower than the opening price of that day, and about 16% lower than this week's high.

Recently, CITIC Bank also issued a statement prohibiting the use of its account for bitcoin transactions, which caused heated discussion in the market. In fact, this is not the first time that banks have blocked Bitcoin. As early as 214, many banks, including China Merchants Bank, Huaxia Bank and Agricultural Bank, had intensively announced information prohibiting Bitcoin transactions, for reasons similar to those announced by CITIC Bank this time, all of which were to protect the property rights and interests of the public and prevent the risk of money laundering.

An industry insider interviewed by CBN News said that the bank's action of blocking Bitcoin does not mean that the official regulatory requirements or tendency have changed significantly, but rather that the bank's routine commercial actions are taken to avoid regulatory accountability and anti-money laundering and other business needs, which have limited practical impact on cryptocurrency transactions.