Bitcoin Falls as Chinese Official Calls for Mining Crackdown


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Bitcoin fell back below $37,000 on Friday as a top Chinese government official called for a crackdown on cryptocurrency mining, amplifying regulatory concerns. Prices for the largest cryptocurrency dropped to $36,800 from $41,700 during U.S. trading hours, erasing a sizable chunk of the corrective bounce from Wednesday’s low of $30,201. The decline happened after China’s Vice Premier Liu He called for a crackdown on bitcoin mining and trading activities. Liu hosted a meeting with the Financial Stability Committee of the State Council on Friday. “We should be more alert and look for potential risks,” according to the meeting records. “We...