Why Coinbase Stock Fell Today
Shares of Coinbase Global (NASDAQ: COIN) declined 3% on Thursday, as regulators around the world step up their scrutiny of crypto-related businesses.
China has cracked down on its domestic crypto industry in recent weeks. In June, China's central bank told its largest lenders and mobile payment companies to no longer provide services to crypto-focused companies. The Chinese government is also reportedly considering a move against the use of stablecoins within its borders ahead of the mainstream rollout of its digital yuan initiative.
Coinbase's stock price sank on Thursday. Image source: Getty Images.
Source Fool.com
