China’s top regulators ban crypto trading and mining, sending bitcoin tumbling

China’s top regulators ban crypto trading and mining, sending bitcoin tumbling

China intensifies crypto crackdown, Vows to root out “illegal” trading activity, bans mining, Bitcoin, and smaller coins slump. China’s most powerful regulators on Friday intensified a crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks. Ten agencies, including the central bank, financial, securities and foreign exchange regulators, vowed to work together to root out “illegal” cryptocurrency activity, the first time the Beijing-based regulators have joined forces to explicitly ban all cryptocurrency-related activity.

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