News Snapshot:
CORRECTION (May 21, 16:38 UTC): This article has been corrected to clarify that the call for a crackdown came from an official statement summarizing a meeting of a committee of China’s State Council, hosted by Vice Premier Liu He, rather than from comments made by him directly. Bitcoin fell back below $37,000 on Friday as a top Chinese governmental body 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. Related: Bitcoin Stabilizes...
