Chinese regulators ban crypto trading, mining; Bitcoin tumbles globally


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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...