Chinese regulators ban crypto trading, mining; Bitcoin tumbles globally

China escalates its crackdown on cryptocurrencies with a blanket ban on all digital currency transactions and mining, sending bitcoin and other major coins lower and pressuring crypto and blockchain-related stocks. Last day, ten Chinses agencies, including the central bank, financial, securities and foreign exchange regulators have pledged to work together to root out "illegal" cryptocurrency activity. It is the first time the Beijing-based regulators have joined forces to ban all cryptocurrency-related activity. Earlier this year, China banned financial institutions and payment companies from providing services related to cryptocurrency transactions and issued similar bans in 2013 and 2017. "In the history…