China bans crypto trading and mining Newcastle Herald


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news, world China’s most powerful regulators have intensified a crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks. Ten agencies – including the central bank, financial, securities and foreign exchange regulators – vowed to work together to root out “illegal” cryptocurrency activity, the first time the Beijing-based regulators have joined forces to explicitly ban all cryptocurrency-related activity. China in May banned financial institutions and payment companies from providing services related to cryptocurrency transactions and issued similar bans in 2013 and 2017. The repeated prohibitions...