News Snapshot:
According to the Reuters report , China’s most powerful regulators announced a complete blanket ban on all crypto transactions and mining. China intensified its crackdown on cryptocurrencies on Friday in a sudden move to put a complete ban on cryptocurrencies. Ten agencies, including the central bank, financial, securities, and foreign exchange regulators, vowed to work together to root out “illegal” cryptocurrency activity. Earlier, China had banned crypto mining in some provinces. Regulators site environmental concern over crypto mining. Chinese regulators expressed environmental concerns, saying that “mining,” the energy-intensive computing process through which bitcoin and other tokens are created, is hurting...
