Crypto miners halt China business after Beijing's crackdown, bitcoin dives The Edge Markets


Source: theedgemarkets.com theedgemarkets.com

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- A + A SHANGHAI (May 24): Cryptocurrency mining operators, including a Huobi Mall and BTC.TOP, are suspending their China operations after Beijing stepped up its efforts to crack down on bitcoin mining and trading, sending the digital currency tumbling. A State Council committee led by Vice Premier Liu He announced the crackdown late on Friday — the first time the council has targeted virtual currency mining, a big business in China that accounts for as much as 70% of the world's crypto supply. Bitcoin took a hammering after the latest Chinese move, and is now down nearly 50% from...