China to crack down on mining of cryptocurrencies, delivering a one-two punch to digital tokens after triggering global sell-off

//China to crack down on mining of cryptocurrencies, delivering a one-two punch to digital tokens after triggering global sell-off

China to crack down on mining of cryptocurrencies, delivering a one-two punch to digital tokens after triggering global sell-off

China will crack down on bitcoin mining, according to an announcement by the government‘s cabinet three days after regulators reiterated their ban of digital tokens in financial transactions, delivering a one-two punch that may further weigh on the cryptocurrency industry after triggering last week’s global sell-off.The government will “crack down on bitcoin mining and trading behaviour, and resolutely prevent the transfer of individual risks to the society”, according to a statement by the…

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By | 2021-05-22T05:57:02+00:00 May 22nd, 2021|Business|Comments Off on China to crack down on mining of cryptocurrencies, delivering a one-two punch to digital tokens after triggering global sell-off